Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives $43.00 Average Target Price from Brokerages

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have received a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $43.00.

A number of equities analysts recently commented on RCKT shares. Scotiabank lifted their target price on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Jefferies Financial Group assumed coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price objective on the stock. The Goldman Sachs Group decreased their price objective on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, BMO Capital Markets assumed coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price objective on the stock.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank purchased a new position in shares of Rocket Pharmaceuticals during the fourth quarter valued at about $13,827,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Rocket Pharmaceuticals by 16.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,572 shares of the biotechnology company’s stock worth $1,754,000 after acquiring an additional 19,939 shares in the last quarter. Woodline Partners LP boosted its stake in Rocket Pharmaceuticals by 8.5% during the fourth quarter. Woodline Partners LP now owns 652,421 shares of the biotechnology company’s stock worth $8,201,000 after acquiring an additional 51,358 shares in the last quarter. Soleus Capital Management L.P. bought a new stake in Rocket Pharmaceuticals during the fourth quarter worth about $3,415,000. Finally, Two Sigma Investments LP boosted its stake in Rocket Pharmaceuticals by 88.6% during the fourth quarter. Two Sigma Investments LP now owns 41,142 shares of the biotechnology company’s stock worth $517,000 after acquiring an additional 19,326 shares in the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT opened at $8.76 on Friday. The company has a market capitalization of $934.08 million, a P/E ratio of -3.19 and a beta of 1.03. The company has a fifty day moving average of $10.22 and a 200-day moving average of $13.94. Rocket Pharmaceuticals has a 52-week low of $8.06 and a 52-week high of $28.67. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.06. As a group, equities research analysts predict that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

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.