Rocket Pharmaceuticals (NASDAQ:RCKT) Earns Outperform Rating from Analysts at BMO Capital Markets

BMO Capital Markets began coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research note published on Wednesday morning, Marketbeat reports. The brokerage issued an outperform rating and a $50.00 target price on the biotechnology company’s stock.

Several other analysts also recently issued reports on RCKT. Canaccord Genuity Group decreased their target price on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Needham & Company LLC decreased their target price on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Scotiabank lifted their target price on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Wedbush started coverage on Rocket Pharmaceuticals in a research note on Monday, December 30th. They set an “outperform” rating and a $32.00 target price on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Rocket Pharmaceuticals Stock Up 7.2 %

RCKT stock opened at $8.80 on Wednesday. Rocket Pharmaceuticals has a twelve month low of $8.06 and a twelve month high of $28.73. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The stock has a market cap of $938.34 million, a P/E ratio of -3.20 and a beta of 1.03. The business’s 50-day moving average price is $10.45 and its 200-day moving average price is $14.16.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.06. On average, equities research analysts forecast that Rocket Pharmaceuticals will post -2.83 EPS for the current year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several large investors have recently modified their holdings of RCKT. Pier 88 Investment Partners LLC increased its position in shares of Rocket Pharmaceuticals by 5.1% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 32,490 shares of the biotechnology company’s stock valued at $600,000 after purchasing an additional 1,590 shares during the last quarter. First Turn Management LLC increased its position in shares of Rocket Pharmaceuticals by 10.8% during the 3rd quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock valued at $11,476,000 after purchasing an additional 60,317 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Rocket Pharmaceuticals during the 3rd quarter valued at approximately $636,000. Jennison Associates LLC increased its position in shares of Rocket Pharmaceuticals by 33.2% during the 3rd quarter. Jennison Associates LLC now owns 40,740 shares of the biotechnology company’s stock valued at $752,000 after purchasing an additional 10,162 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Rocket Pharmaceuticals during the 3rd quarter valued at approximately $527,000. Institutional investors own 98.39% of the company’s stock.

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.