Rocket Pharmaceuticals’ (RCKT) Buy Rating Reiterated at Chardan Capital

Rocket Pharmaceuticals (NASDAQ:RCKT)‘s stock had its “buy” rating reiterated by analysts at Chardan Capital in a report released on Monday,Benzinga reports. They currently have a $62.00 target price on the biotechnology company’s stock. Chardan Capital’s price target points to a potential upside of 353.88% from the company’s current price.

Several other analysts also recently weighed in on RCKT. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a 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 report on Monday, September 30th. JPMorgan Chase & Co. lifted their target price on shares of 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 reissued a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a report on Friday, November 8th. Finally, Scotiabank assumed coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Rocket Pharmaceuticals Stock Performance

Rocket Pharmaceuticals stock traded down $0.32 during midday trading on Monday, hitting $13.66. 1,485,571 shares of the company’s stock were exchanged, compared to its average volume of 785,753. Rocket Pharmaceuticals has a 12-month low of $13.39 and a 12-month high of $32.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.79 and a current ratio of 6.05. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -4.97 and a beta of 1.09. The firm’s 50 day simple moving average is $17.75 and its 200 day simple moving average is $20.17.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of institutional investors have recently modified their holdings of RCKT. Mirae Asset Global Investments Co. Ltd. raised its position 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 buying an additional 582 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Rocket Pharmaceuticals by 31.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after buying an additional 764 shares during the last quarter. Values First Advisors Inc. purchased a new stake in Rocket Pharmaceuticals in the third quarter valued at approximately $108,000. SG Americas Securities LLC purchased a new stake in Rocket Pharmaceuticals in the third quarter valued at approximately $113,000. Finally, XTX Topco Ltd purchased a new stake in Rocket Pharmaceuticals in the third quarter valued at approximately $286,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

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.