Rocket Pharmaceuticals (NASDAQ:RCKT) Price Target Lowered to $54.00 at Chardan Capital

Rocket Pharmaceuticals (NASDAQ:RCKT) had its price objective decreased by Chardan Capital from $62.00 to $54.00 in a research report released on Friday morning,Benzinga reports. Chardan Capital currently has a buy rating on the biotechnology company’s stock.

Other research analysts also recently issued research reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Jefferies Financial Group began coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price target for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $39.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Wedbush began coverage on shares of Rocket Pharmaceuticals in a research note on Monday, December 30th. They issued an “outperform” rating and a $32.00 price target for the company. Finally, Needham & Company LLC decreased their price target on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $45.64.

Rocket Pharmaceuticals Trading Up 0.5 %

NASDAQ RCKT opened at $9.45 on Friday. The firm has a 50 day simple moving average of $10.94 and a 200-day simple moving average of $14.78. 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 one year low of $8.94 and a one year high of $31.24. The firm has a market cap of $861.43 million, a price-to-earnings ratio of -3.44 and a beta of 0.98.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.06. Equities research analysts anticipate that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of institutional investors have recently modified their holdings of RCKT. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Rocket Pharmaceuticals by 21.5% in 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 acquiring an additional 582 shares during the period. Rice Hall James & Associates LLC increased its holdings in shares of Rocket Pharmaceuticals by 22.2% in the 3rd quarter. Rice Hall James & Associates LLC now owns 92,142 shares of the biotechnology company’s stock valued at $1,702,000 after acquiring an additional 16,719 shares during the period. VELA Investment Management LLC increased its holdings in shares of Rocket Pharmaceuticals by 49.0% in the 3rd quarter. VELA Investment Management LLC now owns 30,959 shares of the biotechnology company’s stock valued at $572,000 after acquiring an additional 10,186 shares during the period. Harbor Capital Advisors Inc. increased its holdings 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 valued at $3,112,000 after acquiring an additional 71,372 shares during the period. Finally, Privium Fund Management B.V. increased its holdings in shares of Rocket Pharmaceuticals by 17.5% in 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 acquiring an additional 43,820 shares during the period. 98.39% of the stock is owned by institutional investors and hedge funds.

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.