Rocket Pharmaceuticals (NASDAQ:RCKT) Earns “Buy” Rating from Chardan Capital

Chardan Capital reiterated their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research note issued to investors on Monday,Benzinga reports. Chardan Capital currently has a $62.00 price target on the biotechnology company’s stock.

Other equities analysts have also issued reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their price target on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Scotiabank assumed 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 on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.00.

Rocket Pharmaceuticals Price Performance

RCKT opened at $13.00 on Monday. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -4.73 and a beta of 1.09. The stock has a fifty day simple moving average of $17.38 and a two-hundred day simple moving average of $19.98. Rocket Pharmaceuticals has a 12-month low of $12.62 and a 12-month high of $32.53.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RCKT. Nisa Investment Advisors LLC grew its position in Rocket Pharmaceuticals by 31.9% in 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 during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 worth $61,000 after acquiring an additional 582 shares during the period. Values First Advisors Inc. purchased a new stake in Rocket Pharmaceuticals during the third quarter valued at $108,000. SG Americas Securities LLC bought a new position in Rocket Pharmaceuticals in the third quarter valued at about $113,000. Finally, Dana Investment Advisors Inc. boosted its position in Rocket Pharmaceuticals by 4.4% in the second quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock worth $298,000 after purchasing an additional 586 shares during the last quarter. 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.