Rocket Pharmaceuticals (NASDAQ:RCKT) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a report issued on Tuesday,Benzinga reports. The brokerage currently has a $65.00 price objective on the biotechnology company’s stock.

Several other equities research analysts have also recently weighed in on RCKT. Chardan Capital reissued a “buy” rating and set a $62.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. JPMorgan Chase & Co. raised their target price on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $38.00 target price on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday. Finally, Scotiabank assumed coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.00.

Rocket Pharmaceuticals Trading Up 10.3 %

Shares of RCKT opened at $14.11 on Tuesday. The stock has a market capitalization of $1.29 billion, a P/E ratio of -5.14 and a beta of 1.09. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The firm has a fifty day simple moving average of $17.26 and a two-hundred day simple moving average of $19.93. Rocket Pharmaceuticals has a twelve month low of $12.62 and a twelve month high of $32.53.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in Rocket Pharmaceuticals by 22.8% during the 3rd quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock valued at $207,642,000 after acquiring an additional 2,086,424 shares during the period. Westfield Capital Management Co. LP increased its stake in Rocket Pharmaceuticals by 3.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock valued at $83,001,000 after purchasing an additional 165,911 shares in the last quarter. Maverick Capital Ltd. increased its stake in Rocket Pharmaceuticals by 4.8% during the 3rd quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock valued at $76,072,000 after purchasing an additional 190,360 shares in the last quarter. State Street Corp increased its stake in Rocket Pharmaceuticals by 11.6% during the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after purchasing an additional 322,156 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Rocket Pharmaceuticals by 11.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock worth $79,290,000 after acquiring an additional 314,086 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.

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.