Chardan Capital Reaffirms “Buy” Rating for Rocket Pharmaceuticals (NASDAQ:RCKT)

Chardan Capital reiterated their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a report issued on Monday,Benzinga reports. They currently have a $62.00 target price on the biotechnology company’s stock.

A number of other research firms have also commented on RCKT. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Scotiabank initiated coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $52.00 price objective on shares of Rocket Pharmaceuticals in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $38.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $51.00.

Rocket Pharmaceuticals Price Performance

Shares of RCKT opened at $13.04 on Monday. Rocket Pharmaceuticals has a 1-year low of $12.62 and a 1-year high of $32.53. The stock has a market cap of $1.19 billion, a PE ratio of -4.74 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The firm has a fifty day moving average price of $17.38 and a 200 day moving average price of $19.98.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its position in Rocket Pharmaceuticals by 31.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after buying an additional 764 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rocket Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 582 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Rocket Pharmaceuticals in the third quarter valued at about $108,000. SG Americas Securities LLC purchased a new stake in shares of Rocket Pharmaceuticals in the third quarter valued at about $113,000. Finally, Dana Investment Advisors Inc. lifted its holdings in shares of Rocket Pharmaceuticals by 4.4% in the second quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after purchasing an additional 586 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.