Rocket Pharmaceuticals (NASDAQ:RCKT) Given New $44.00 Price Target at Leerink Partners

Rocket Pharmaceuticals (NASDAQ:RCKT) had its price objective reduced by Leerink Partners from $46.00 to $44.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the biotechnology company’s stock.

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

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ RCKT opened at $14.11 on Tuesday. 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 stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -5.14 and a beta of 1.09. The stock’s fifty day simple moving average is $17.26 and its 200 day simple moving average is $19.93. Rocket Pharmaceuticals has a 52-week low of $12.62 and a 52-week high of $32.53.

Institutional Trading of Rocket Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in RCKT. Geode Capital Management LLC lifted its position in shares of Rocket Pharmaceuticals by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock worth $29,888,000 after buying an additional 14,256 shares during the last quarter. Main Management ETF Advisors LLC acquired a new stake in shares of Rocket Pharmaceuticals in the third quarter worth about $602,000. XTX Topco Ltd acquired a new stake in shares of Rocket Pharmaceuticals in the third quarter worth about $286,000. Wellington Management Group LLP lifted its position in shares of Rocket Pharmaceuticals by 22.8% in the third quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock worth $207,642,000 after buying an additional 2,086,424 shares during the last quarter. Finally, Sphera Funds Management LTD. lifted its position in shares of Rocket Pharmaceuticals by 12.0% in the third quarter. Sphera Funds Management LTD. now owns 231,792 shares of the biotechnology company’s stock worth $4,281,000 after buying an additional 24,859 shares during the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

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.