Rocket Pharmaceuticals (NASDAQ:RCKT) Earns Sector Outperform Rating from Analysts at Scotiabank

Scotiabank assumed coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research note published on Wednesday, MarketBeat reports. The firm issued a sector outperform rating and a $50.00 price target on the biotechnology company’s stock.

RCKT has been the subject of a number of other reports. Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, September 30th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, September 17th. 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. JPMorgan Chase & Co. upped their target price on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Finally, Chardan Capital reiterated a “buy” rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.75.

Rocket Pharmaceuticals Trading Up 2.1 %

Rocket Pharmaceuticals stock opened at $18.82 on Wednesday. Rocket Pharmaceuticals has a 52-week low of $15.98 and a 52-week high of $32.53. The company has a market cap of $1.71 billion, a P/E ratio of -6.56 and a beta of 1.09. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $18.54 and a two-hundred day simple moving average of $21.19.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results 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 firm posted ($0.82) EPS. Analysts predict that Rocket Pharmaceuticals will post -2.97 EPS for the current year.

Institutional Trading of Rocket Pharmaceuticals

Large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its stake in shares of Rocket Pharmaceuticals by 31.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 764 shares during the last quarter. SG Americas Securities LLC bought a new position in Rocket Pharmaceuticals during the third quarter valued at $113,000. Dana Investment Advisors Inc. raised its stake in shares of Rocket Pharmaceuticals by 4.4% in the second quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after acquiring an additional 586 shares during the period. Mirador Capital Partners LP purchased a new stake in shares of Rocket Pharmaceuticals in the third quarter valued at $310,000. Finally, Virtu Financial LLC bought a new stake in shares of Rocket Pharmaceuticals in the 4th quarter worth about $332,000. 98.39% of the stock is currently 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.