Leerink Partners Issues Pessimistic Forecast for Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Price

Rocket Pharmaceuticals (NASDAQ:RCKT) had its target price reduced by stock analysts at Leerink Partners from $46.00 to $44.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Leerink Partners’ target price would indicate a potential upside of 224.96% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday. JPMorgan Chase & Co. raised 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. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $38.00 target price on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. 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. Finally, Chardan Capital restated a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a report on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.89.

Rocket Pharmaceuticals Trading Down 0.9 %

RCKT traded down $0.12 on Tuesday, hitting $13.54. 407,550 shares of the company were exchanged, compared to its average volume of 784,066. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. Rocket Pharmaceuticals has a 12 month low of $13.15 and a 12 month high of $32.53. The firm has a fifty day simple moving average of $17.63 and a two-hundred day simple moving average of $20.10. The stock has a market capitalization of $1.23 billion, a PE ratio of -4.92 and a beta of 1.09.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Novo Holdings A S boosted its position in shares of Rocket Pharmaceuticals by 4.8% during the second quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock valued at $23,683,000 after buying an additional 50,000 shares during the last quarter. Renaissance Technologies LLC bought a new position in Rocket Pharmaceuticals during the second quarter valued at approximately $2,144,000. Maverick Capital Ltd. raised its stake in Rocket Pharmaceuticals by 1.0% during the 2nd quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company’s stock valued at $84,577,000 after buying an additional 40,000 shares during the last quarter. Privium Fund Management B.V. lifted its holdings in shares of Rocket Pharmaceuticals by 17.5% during the 3rd quarter. Privium Fund Management B.V. now owns 294,800 shares of the biotechnology company’s stock valued at $5,445,000 after buying an additional 43,820 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Rocket Pharmaceuticals by 73.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 168,506 shares of the biotechnology company’s stock worth $3,112,000 after buying an additional 71,372 shares during the last quarter. 98.39% of the stock is owned by 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.