Needham & Company LLC Reaffirms “Buy” Rating for Rocket Pharmaceuticals (NASDAQ:RCKT)

Needham & Company LLC reaffirmed their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a report issued on Tuesday morning,Benzinga reports. They currently have a $52.00 price target on the biotechnology company’s stock.

A number of other research analysts have also commented on the company. Chardan Capital reiterated a “buy” rating and set a $62.00 price target on shares of Rocket Pharmaceuticals in a report on Monday. JPMorgan Chase & Co. upped 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 reiterated a “buy” rating and set a $38.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, September 30th. Scotiabank assumed coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

Rocket Pharmaceuticals Stock Down 3.7 %

Shares of RCKT stock opened at $13.16 on Tuesday. Rocket Pharmaceuticals has a 12 month low of $13.07 and a 12 month 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 stock has a 50 day moving average of $17.50 and a 200-day moving average of $20.03. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06.

Institutional Trading of Rocket Pharmaceuticals

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in Rocket Pharmaceuticals by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock valued at $29,888,000 after acquiring an additional 14,256 shares during the period. Main Management ETF Advisors LLC bought a new stake in Rocket Pharmaceuticals in the third quarter valued at $602,000. XTX Topco Ltd bought a new stake in Rocket Pharmaceuticals in the third quarter valued at $286,000. Wellington Management Group LLP grew its position in Rocket Pharmaceuticals by 22.8% in 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 acquiring an additional 2,086,424 shares during the period. Finally, Sphera Funds Management LTD. grew its holdings in shares of Rocket Pharmaceuticals by 12.0% during the third quarter. Sphera Funds Management LTD. now owns 231,792 shares of the biotechnology company’s stock worth $4,281,000 after purchasing an additional 24,859 shares during the last quarter. 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.