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

Rocket Pharmaceuticals (NASDAQ:RCKT)‘s stock had its “buy” rating reaffirmed by analysts at Chardan Capital in a report released on Monday,Benzinga reports. They currently have a $62.00 price objective on the biotechnology company’s stock. Chardan Capital’s price target points to a potential upside of 371.12% from the company’s previous close.

A number of other research firms have also recently commented on RCKT. Scotiabank assumed coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 price objective on shares of Rocket Pharmaceuticals in a report on Monday, September 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.00.

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT opened at $13.16 on Monday. The company has a market capitalization of $1.20 billion, a PE ratio of -4.79 and a beta of 1.09. 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 52-week low of $13.07 and a 52-week high of $32.53. The company has a 50-day simple moving average of $17.50 and a 200 day simple moving average of $20.03.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its holdings 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 worth $68,000 after acquiring an additional 764 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Rocket Pharmaceuticals by 21.5% during the 3rd 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 in the last quarter. Values First Advisors Inc. purchased a new position in shares of Rocket Pharmaceuticals during the 3rd quarter valued at $108,000. SG Americas Securities LLC bought a new position in shares of Rocket Pharmaceuticals in the third quarter worth $113,000. Finally, Dana Investment Advisors Inc. raised its position 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 worth $298,000 after buying an additional 586 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors.

About Rocket Pharmaceuticals

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.