Needham & Company LLC Reaffirms Buy Rating for Rocket Pharmaceuticals (NASDAQ:RCKT)

Needham & Company LLC reiterated their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a report published on Friday,Benzinga reports. Needham & Company LLC currently has a $52.00 price target on the biotechnology company’s stock.

Several other brokerages also recently weighed in on RCKT. Scotiabank assumed coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Chardan Capital restated a “buy” rating and set a $62.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

Rocket Pharmaceuticals Trading Up 1.2 %

Shares of NASDAQ RCKT traded up $0.20 during midday trading on Friday, hitting $17.45. The stock had a trading volume of 902,588 shares, compared to its average volume of 661,944. The company has a fifty day moving average price of $18.04 and a 200 day moving average price of $20.44. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -6.25 and a beta of 1.09. Rocket Pharmaceuticals has a 1-year low of $15.98 and a 1-year high of $32.53. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.05.

Institutional Trading of Rocket Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Rocket Pharmaceuticals by 21.5% during 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 purchasing an additional 582 shares during the period. Nisa Investment Advisors LLC increased its stake in Rocket Pharmaceuticals by 31.9% during the 2nd 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 period. Values First Advisors Inc. bought a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter worth about $108,000. SG Americas Securities LLC acquired a new stake in shares of Rocket Pharmaceuticals in the 3rd quarter worth approximately $113,000. Finally, Dana Investment Advisors Inc. lifted its stake 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 period. 98.39% of the stock is currently owned by institutional investors and hedge funds.

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.