Canaccord Genuity Group Cuts Rocket Pharmaceuticals (NASDAQ:RCKT) Price Target to $36.00

Rocket Pharmaceuticals (NASDAQ:RCKT) had its target price lowered by Canaccord Genuity Group from $39.00 to $36.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

A number of other equities research analysts also recently commented on the company. Jefferies Financial Group assumed coverage on Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They set a “buy” rating and a $29.00 price objective for the company. Needham & Company LLC lowered their target price on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Wedbush initiated coverage on shares of Rocket Pharmaceuticals in a report on Monday, December 30th. They set an “outperform” rating and a $32.00 price target for the company. Chardan Capital reduced their target price on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Leerink Partners dropped their price target on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.30.

Rocket Pharmaceuticals Trading Up 6.4 %

NASDAQ:RCKT opened at $9.21 on Monday. The business’s 50-day moving average is $10.78 and its two-hundred day moving average is $14.52. 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 12 month low of $8.25 and a 12 month high of $28.73. The firm has a market capitalization of $839.56 million, a PE ratio of -3.35 and a beta of 0.98.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.06. Research analysts predict that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Large investors have recently modified their holdings of the business. Toronto Dominion Bank bought a new stake in shares of Rocket Pharmaceuticals in the 4th quarter worth approximately $13,827,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Rocket Pharmaceuticals by 16.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,572 shares of the biotechnology company’s stock valued at $1,754,000 after buying an additional 19,939 shares during the period. Woodline Partners LP boosted its position in Rocket Pharmaceuticals by 8.5% during the 4th quarter. Woodline Partners LP now owns 652,421 shares of the biotechnology company’s stock valued at $8,201,000 after buying an additional 51,358 shares during the period. Soleus Capital Management L.P. purchased a new stake in Rocket Pharmaceuticals during the 4th quarter valued at $3,415,000. Finally, Two Sigma Investments LP boosted its position in Rocket Pharmaceuticals by 88.6% during the 4th quarter. Two Sigma Investments LP now owns 41,142 shares of the biotechnology company’s stock valued at $517,000 after buying an additional 19,326 shares during the period. Hedge funds and other institutional investors own 98.39% of the company’s stock.

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.