Analysts Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Target Price at $43.00

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $43.00.

Several research firms have recently commented on RCKT. Jefferies Financial Group began coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $29.00 price objective for the company. Needham & Company LLC decreased their price objective on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating for the company in a report on Friday, February 28th. Chardan Capital decreased their price objective on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a report on Friday, February 28th. Scotiabank upped their price target on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Finally, Wedbush assumed coverage on Rocket Pharmaceuticals in a report on Monday, December 30th. They set an “outperform” rating and a $32.00 price target for the company.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its position in Rocket Pharmaceuticals by 1.3% in the fourth quarter. Rhumbline Advisers now owns 99,339 shares of the biotechnology company’s stock worth $1,249,000 after purchasing an additional 1,242 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Rocket Pharmaceuticals by 4.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company’s stock worth $408,000 after purchasing an additional 1,280 shares during the last quarter. Arizona State Retirement System boosted its position in Rocket Pharmaceuticals by 8.4% in the fourth quarter. Arizona State Retirement System now owns 19,826 shares of the biotechnology company’s stock worth $249,000 after purchasing an additional 1,528 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Rocket Pharmaceuticals by 1.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,633 shares of the biotechnology company’s stock valued at $2,210,000 after buying an additional 1,561 shares during the last quarter. Finally, Pier 88 Investment Partners LLC lifted 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 buying an additional 1,590 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Trading Down 1.7 %

NASDAQ RCKT opened at $8.32 on Friday. 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 one year low of $8.06 and a one year high of $28.67. The business has a 50 day simple moving average of $9.93 and a 200 day simple moving average of $13.72. The stock has a market capitalization of $887.16 million, a P/E ratio of -3.03 and a beta of 1.03.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released 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. Research analysts expect that Rocket Pharmaceuticals will post -2.83 earnings per share for the current year.

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.