Rocket Pharmaceuticals (NASDAQ:RCKT) Price Target Lowered to $44.00 at Leerink Partners

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

RCKT has been the topic of several other reports. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday. Canaccord Genuity Group restated a “buy” rating and issued a $38.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. Chardan Capital reaffirmed a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday. Scotiabank began coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Rocket Pharmaceuticals Price Performance

NASDAQ:RCKT opened at $13.00 on Tuesday. The company has a 50 day moving average price of $17.38 and a 200-day moving average price of $19.98. Rocket Pharmaceuticals has a 1-year low of $12.62 and a 1-year high of $32.53. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -4.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC raised its stake in shares of Rocket Pharmaceuticals by 9.1% during the first quarter. ProShare Advisors LLC now owns 17,614 shares of the biotechnology company’s stock worth $475,000 after purchasing an additional 1,468 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Rocket Pharmaceuticals by 11.9% during the 1st 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. Janus Henderson Group PLC grew its position in Rocket Pharmaceuticals by 174.3% during the first quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock valued at $70,170,000 after acquiring an additional 1,656,111 shares during the period. Harbor Capital Advisors Inc. increased its position in Rocket Pharmaceuticals by 19.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 97,134 shares of the biotechnology company’s stock worth $2,091,000 after purchasing an additional 15,708 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Rocket Pharmaceuticals by 31.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after acquiring an additional 764 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.