Rocket Pharmaceuticals (NASDAQ:RCKT) Given New $44.00 Price Target at Leerink Partners

Rocket Pharmaceuticals (NASDAQ:RCKT) had its price target reduced by Leerink Partners from $46.00 to $44.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Leerink Partners currently has an outperform rating on the biotechnology company’s stock.

Several other analysts also recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, September 30th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday. Finally, Chardan Capital reaffirmed a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.00.

Rocket Pharmaceuticals Trading Up 10.3 %

Shares of NASDAQ RCKT opened at $14.11 on Tuesday. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -5.14 and a beta of 1.09. Rocket Pharmaceuticals has a 12-month low of $12.62 and a 12-month high of $32.53. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The stock’s 50 day simple moving average is $17.26 and its 200 day simple moving average is $19.93.

Institutional Trading of Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Rocket Pharmaceuticals by 22.8% in the 3rd quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock worth $207,642,000 after buying an additional 2,086,424 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Rocket Pharmaceuticals by 3.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock worth $83,001,000 after buying an additional 165,911 shares in the last quarter. Maverick Capital Ltd. raised its stake in shares of Rocket Pharmaceuticals by 4.8% in the 3rd quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock worth $76,072,000 after buying an additional 190,360 shares in the last quarter. State Street Corp raised its stake in shares of Rocket Pharmaceuticals by 11.6% in the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock worth $57,294,000 after buying an additional 322,156 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of 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. 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.