Chardan Capital Reaffirms “Buy” Rating for Rocket Pharmaceuticals (NASDAQ:RCKT)

Rocket Pharmaceuticals (NASDAQ:RCKT)‘s stock had its “buy” rating reissued by equities researchers at Chardan Capital in a report released on Monday,Benzinga reports. They currently have a $62.00 target price on the biotechnology company’s stock. Chardan Capital’s price target would suggest a potential upside of 371.12% from the stock’s previous close.

RCKT has been the subject of a number of other reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $38.00 price objective on shares of Rocket Pharmaceuticals in a report on Monday, September 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Scotiabank started coverage on Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.00.

Rocket Pharmaceuticals Trading Down 3.7 %

Shares of Rocket Pharmaceuticals stock opened at $13.16 on Monday. 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 $13.07 and a 1 year high of $32.53. The firm has a market cap of $1.20 billion, a PE ratio of -4.79 and a beta of 1.09. The company has a 50 day simple moving average of $17.50 and a two-hundred day simple moving average of $20.03.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of RCKT. Wellington Management Group LLP boosted its stake in shares of Rocket Pharmaceuticals by 22.8% during the third quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock valued at $207,642,000 after purchasing an additional 2,086,424 shares during the period. Janus Henderson Group PLC boosted its position in Rocket Pharmaceuticals by 174.3% during the 1st quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock valued at $70,170,000 after buying an additional 1,656,111 shares during the period. State Street Corp boosted its position in Rocket Pharmaceuticals by 11.6% during the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after buying an additional 322,156 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in 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 acquiring an additional 314,086 shares during the last quarter. Finally, First Turn Management LLC increased its position in shares of Rocket Pharmaceuticals by 123.6% in the second quarter. First Turn Management LLC now owns 560,989 shares of the biotechnology company’s stock valued at $12,078,000 after acquiring an additional 310,119 shares during the period. 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.