Rocket Pharmaceuticals (NASDAQ:RCKT) Given New $15.00 Price Target at The Goldman Sachs Group

Rocket Pharmaceuticals (NASDAQ:RCKT) had its price objective reduced by The Goldman Sachs Group from $29.00 to $15.00 in a research report sent to investors on Monday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the biotechnology company’s stock.

Other equities analysts also recently issued reports about the stock. Chardan Capital reduced their target price on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Wedbush initiated coverage on shares of Rocket Pharmaceuticals in a research note on Monday, December 30th. They set an “outperform” rating and a $32.00 target price on the stock. Canaccord Genuity Group reduced their target price on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday. Needham & Company LLC reduced 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 note on Friday, February 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $42.30.

Rocket Pharmaceuticals Stock Up 6.4 %

Shares of NASDAQ RCKT opened at $9.21 on Monday. The company’s 50-day simple moving average is $10.78 and its 200-day simple moving average is $14.52. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The firm has a market cap of $839.56 million, a price-to-earnings ratio of -3.35 and a beta of 0.98. Rocket Pharmaceuticals has a 52-week low of $8.25 and a 52-week high of $28.73.

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

Institutional Trading of Rocket Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC raised its position in Rocket Pharmaceuticals by 796.2% in the 4th quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company’s stock valued at $690,000 after purchasing an additional 48,793 shares during the last quarter. Jennison Associates LLC raised its position in Rocket Pharmaceuticals by 72.6% during the 4th quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company’s stock worth $884,000 after buying an additional 29,564 shares during the last quarter. Mirador Capital Partners LP raised its position in Rocket Pharmaceuticals by 403.9% during the 4th quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company’s stock worth $1,063,000 after buying an additional 67,755 shares during the last quarter. First Turn Management LLC raised its position in Rocket Pharmaceuticals by 10.8% during the 3rd quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock worth $11,476,000 after buying an additional 60,317 shares during the last quarter. Finally, Sovran Advisors LLC purchased a new position in Rocket Pharmaceuticals during the 4th quarter worth $1,895,000. Hedge funds and other 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.