Needham & Company LLC Reiterates Buy Rating for Rocket Pharmaceuticals (NASDAQ:RCKT)

Rocket Pharmaceuticals (NASDAQ:RCKT)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $52.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 298.77% from the company’s current price.

RCKT has been the topic of several other reports. Scotiabank assumed coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. Chardan Capital reiterated a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Rocket Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Rocket Pharmaceuticals Trading Down 0.9 %

Rocket Pharmaceuticals stock 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 firm’s 50-day moving average is $17.38 and its 200-day moving average is $19.98. Rocket Pharmaceuticals has a 1 year low of $12.62 and a 1 year high of $32.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05.

Institutional Trading of Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in RCKT. Wellington Management Group LLP raised its holdings in shares of Rocket Pharmaceuticals by 22.8% in the 3rd quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock worth $207,642,000 after purchasing an additional 2,086,424 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Rocket Pharmaceuticals by 174.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock worth $70,170,000 after purchasing an additional 1,656,111 shares in the last quarter. State Street Corp raised its holdings in shares of Rocket Pharmaceuticals by 11.6% in the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock worth $57,294,000 after purchasing an additional 322,156 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Rocket Pharmaceuticals by 11.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock worth $79,290,000 after purchasing an additional 314,086 shares in the last quarter. Finally, First Turn Management LLC raised its holdings in shares of Rocket Pharmaceuticals by 123.6% in the 2nd quarter. First Turn Management LLC now owns 560,989 shares of the biotechnology company’s stock worth $12,078,000 after purchasing an additional 310,119 shares in the last quarter. 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.