Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Rating Reaffirmed by Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKTFree Report) in a research report sent to investors on Monday morning, Benzinga reports. Canaccord Genuity Group currently has a $38.00 price target on the biotechnology company’s stock.

Other research analysts have also recently issued reports about the stock. Chardan Capital reissued a buy rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a buy rating and issued a $52.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, September 17th. JPMorgan Chase & Co. boosted their target price on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an overweight rating in a research note on Tuesday, August 6th. Cantor Fitzgerald reiterated an overweight rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Finally, William Blair reaffirmed an outperform rating on shares of Rocket Pharmaceuticals in a research note on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Rocket Pharmaceuticals has an average rating of Moderate Buy and a consensus target price of $52.00.

View Our Latest Analysis on RCKT

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ RCKT opened at $16.96 on Monday. The business has a fifty day moving average price of $19.89 and a two-hundred day moving average price of $22.02. The stock has a market capitalization of $1.54 billion, a PE ratio of -5.91 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 7.79 and a quick ratio of 7.79. Rocket Pharmaceuticals has a fifty-two week low of $16.21 and a fifty-two week high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKTGet Free Report) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.02). During the same period last year, the company earned ($0.82) EPS. As a group, equities analysts predict that Rocket Pharmaceuticals will post -2.97 earnings per share for the current fiscal year.

Insider Activity

In other Rocket Pharmaceuticals news, insider Mark Andrew White sold 3,026 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $20.39, for a total value of $61,700.14. Following the transaction, the insider now directly owns 72,220 shares of the company’s stock, valued at $1,472,565.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. 31.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of large investors have recently bought and sold shares of RCKT. Nisa Investment Advisors LLC boosted its position in shares of Rocket Pharmaceuticals by 31.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 764 shares in the last quarter. Old Well Partners LLC acquired a new position in shares of Rocket Pharmaceuticals during the fourth quarter valued at about $200,000. Capstone Investment Advisors LLC bought a new stake in shares of Rocket Pharmaceuticals during the fourth quarter worth about $217,000. Dana Investment Advisors Inc. raised its holdings in shares of Rocket Pharmaceuticals by 4.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock worth $298,000 after acquiring an additional 586 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Rocket Pharmaceuticals in the 4th quarter valued at about $332,000. 98.39% of the stock is currently owned by institutional investors and hedge funds.

About Rocket Pharmaceuticals

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Rocket Pharmaceuticals (NASDAQ:RCKT)

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