Brokerages Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Price Target at $51.75

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been given a consensus rating of “Moderate Buy” by the ten research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $51.75.

Several research analysts recently commented on RCKT shares. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. Scotiabank assumed coverage on Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Chardan Capital reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday. Finally, 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 research report on Tuesday, August 6th.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ RCKT opened at $15.67 on Friday. The stock has a 50 day moving average price of $17.91 and a 200 day moving average price of $20.29. Rocket Pharmaceuticals has a 52 week low of $15.65 and a 52 week high of $32.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.79 and a current ratio of 6.05. The stock has a market capitalization of $1.43 billion, a PE ratio of -5.70 and a beta of 1.09.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Rocket Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 582 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Rocket Pharmaceuticals by 31.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 764 shares during the period. Values First Advisors Inc. bought a new position in shares of Rocket Pharmaceuticals during the third quarter worth approximately $108,000. SG Americas Securities LLC bought a new position in shares of Rocket Pharmaceuticals during the third quarter worth approximately $113,000. Finally, Dana Investment Advisors Inc. increased its stake in shares of Rocket Pharmaceuticals by 4.4% during the second quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock worth $298,000 after purchasing an additional 586 shares during the period. 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.