Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Rocket Pharmaceuticals (NASDAQ:RCKT) from a hold rating to a buy rating in a report released on Thursday, ValuEngine reports.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird assumed coverage on Rocket Pharmaceuticals in a research report on Monday, April 22nd. They issued an outperform rating for the company. Cowen reissued a buy rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 8th. Zacks Investment Research cut Rocket Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, July 27th. Finally, William Blair reissued a buy rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Rocket Pharmaceuticals currently has a consensus rating of Buy and an average price target of $28.50.

Shares of RCKT traded down $0.34 during mid-day trading on Thursday, hitting $11.54. The company’s stock had a trading volume of 6,684 shares, compared to its average volume of 470,710. Rocket Pharmaceuticals has a one year low of $10.75 and a one year high of $25.96. The company has a debt-to-equity ratio of 0.25, a current ratio of 9.70 and a quick ratio of 9.70. The firm has a market capitalization of $597.43 million, a price-to-earnings ratio of -6.12 and a beta of 2.68. The business has a 50-day moving average of $14.07.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.20. Research analysts expect that Rocket Pharmaceuticals will post -2.09 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank raised its holdings in shares of Rocket Pharmaceuticals by 23.1% during the 2nd quarter. Swiss National Bank now owns 54,800 shares of the biotechnology company’s stock worth $822,000 after buying an additional 10,300 shares in the last quarter. Comerica Bank acquired a new position in shares of Rocket Pharmaceuticals during the 2nd quarter worth $263,000. TD Asset Management Inc. increased its holdings in Rocket Pharmaceuticals by 21.6% in the 2nd quarter. TD Asset Management Inc. now owns 29,143 shares of the biotechnology company’s stock worth $437,000 after purchasing an additional 5,180 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in Rocket Pharmaceuticals in the 2nd quarter worth about $267,000. Finally, Zeke Capital Advisors LLC acquired a new position in Rocket Pharmaceuticals in the 2nd quarter worth about $153,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company that focuses on developing gene therapies for rare and devastating pediatric diseases. It has clinical-stage lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; and leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction It also has additional pre-clinical stage LVV programs include pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia; and infantile malignant osteopetrosis, a genetic disorder characterized by increased bone density and bone mass secondary to impaired bone resorption.

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Analyst Recommendations for Rocket Pharmaceuticals (NASDAQ:RCKT)

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