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

Rocket Pharmaceuticals (NASDAQ:RCKT) had its price target reduced by investment analysts at Leerink Partners from $46.00 to $44.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Leerink Partners’ price target points to a potential upside of 237.42% from the company’s current price.

Other research analysts also recently issued reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday. Chardan Capital reissued a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a report on Monday. Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 target price on shares of Rocket Pharmaceuticals in a report on Monday, September 30th. Finally, Scotiabank began coverage on Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Rocket Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

Rocket Pharmaceuticals Trading Down 0.9 %

Shares of NASDAQ:RCKT opened at $13.04 on Tuesday. The company has a market cap of $1.19 billion, a P/E ratio of -4.74 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. Rocket Pharmaceuticals has a 1 year low of $12.62 and a 1 year high of $32.53. The stock’s fifty day moving average price is $17.38 and its 200-day moving average price is $19.98.

Institutional Trading of Rocket Pharmaceuticals

Several institutional investors have recently made changes to their positions in RCKT. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 buying an additional 582 shares in the last quarter. Nisa Investment Advisors LLC grew 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 valued at $68,000 after buying an additional 764 shares in the last quarter. Values First Advisors Inc. purchased a new position in Rocket Pharmaceuticals during the 3rd quarter valued at approximately $108,000. SG Americas Securities LLC purchased a new position in Rocket Pharmaceuticals during the 3rd quarter valued at approximately $113,000. Finally, XTX Topco Ltd purchased a new position in Rocket Pharmaceuticals during the 3rd quarter valued at approximately $286,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

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.