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

Canaccord Genuity Group reiterated their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a report released on Monday, Benzinga reports. They currently have a $38.00 price target on the biotechnology company’s stock.

A number of other analysts also recently issued reports on the company. Needham & Company LLC reiterated a buy rating and set a $52.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their price target on shares of 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 restated an overweight rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Chardan Capital reiterated a buy rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Finally, William Blair reissued 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $52.00.

Rocket Pharmaceuticals Stock Down 5.3 %

Shares of NASDAQ:RCKT opened at $16.06 on Monday. The firm has a fifty day moving average price of $19.73 and a two-hundred day moving average price of $21.98. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -5.60 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 one year low of $15.98 and a one year high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). During the same period in the prior year, the firm posted ($0.82) earnings per share. Analysts anticipate that Rocket Pharmaceuticals will post -2.97 EPS for the current fiscal year.

Insider Activity

In other news, insider Mark Andrew White sold 3,026 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $20.39, for a total value of $61,700.14. Following the completion of the sale, the insider now owns 72,220 shares of the company’s stock, valued at approximately $1,472,565.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 31.10% of the company’s stock.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of large investors have recently bought and sold shares of RCKT. Goldman Sachs Group Inc. boosted its stake in shares of Rocket Pharmaceuticals by 12.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 594,665 shares of the biotechnology company’s stock valued at $17,822,000 after purchasing an additional 64,946 shares during the period. Russell Investments Group Ltd. boosted its position in Rocket Pharmaceuticals by 4.1% during the 1st quarter. Russell Investments Group Ltd. now owns 675,769 shares of the biotechnology company’s stock valued at $18,205,000 after buying an additional 26,823 shares during the period. Novo Holdings A S grew its holdings in Rocket Pharmaceuticals by 4.8% in the 2nd quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock worth $23,683,000 after acquiring an additional 50,000 shares during the last quarter. Avidity Partners Management LP increased its position in shares of Rocket Pharmaceuticals by 8.3% in the fourth quarter. Avidity Partners Management LP now owns 1,719,103 shares of the biotechnology company’s stock valued at $51,522,000 after acquiring an additional 131,674 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Rocket Pharmaceuticals during the second quarter valued at about $2,144,000. 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.