Rocket Pharmaceuticals (NASDAQ:RCKT) Research Coverage Started at BMO Capital Markets

BMO Capital Markets began coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research report released on Wednesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $50.00 price target on the biotechnology company’s stock.

A number of other research analysts have also weighed in on RCKT. Chardan Capital decreased their target price on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Jefferies Financial Group initiated coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $29.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Needham & Company LLC reduced their target price on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Leerink Partners dropped their price objective on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.00.

Rocket Pharmaceuticals Trading Up 3.1 %

Shares of Rocket Pharmaceuticals stock opened at $8.76 on Wednesday. Rocket Pharmaceuticals has a 12-month low of $8.06 and a 12-month high of $28.67. The stock has a market cap of $934.08 million, a P/E ratio of -3.19 and a beta of 1.03. 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 business’s 50 day moving average is $10.30 and its 200-day moving average is $14.08.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.06. Equities research analysts predict that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Rocket Pharmaceuticals by 24.5% during the fourth quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company’s stock worth $175,919,000 after acquiring an additional 2,753,033 shares during the last quarter. Vanguard Group Inc. grew its stake in Rocket Pharmaceuticals by 18.8% during the fourth quarter. Vanguard Group Inc. now owns 6,577,595 shares of the biotechnology company’s stock worth $82,680,000 after purchasing an additional 1,040,655 shares during the period. Westfield Capital Management Co. LP grew its stake in Rocket Pharmaceuticals by 3.8% during the third quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock worth $83,001,000 after purchasing an additional 165,911 shares during the period. Maverick Capital Ltd. grew its stake in Rocket Pharmaceuticals by 4.8% during the third quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock worth $76,072,000 after purchasing an additional 190,360 shares during the period. Finally, Janus Henderson Group PLC grew its stake in Rocket Pharmaceuticals by 111.0% in the fourth quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company’s stock valued at $50,343,000 after acquiring an additional 2,106,699 shares during the period. 98.39% of the stock is currently owned by institutional investors.

About Rocket Pharmaceuticals

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.