Rocket Pharmaceuticals (NASDAQ:RCKT) had its target price lowered by equities research analysts at Oppenheimer from $39.00 to $37.00 in a research note issued on Tuesday, BenzingaRatingsTable reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Oppenheimer’s price target indicates a potential upside of 230.36% from the stock’s current price.
Several other analysts have also commented on the company. Cowen reaffirmed a “buy” rating on shares of Rocket Pharmaceuticals in a report on Wednesday, May 8th. ValuEngine raised Rocket Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Robert W. Baird started coverage on Rocket Pharmaceuticals in a report on Monday, April 22nd. They issued an “outperform” rating on the stock. Zacks Investment Research raised Rocket Pharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Tuesday. Finally, William Blair reissued a “buy” rating on shares of Rocket Pharmaceuticals in a report on Wednesday, May 1st. Ten investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $28.00.
Rocket Pharmaceuticals stock traded down $0.03 during midday trading on Tuesday, hitting $11.20. 85,922 shares of the company were exchanged, compared to its average volume of 458,929. The company has a market cap of $570.47 million, a price-to-earnings ratio of -5.93 and a beta of 2.68. Rocket Pharmaceuticals has a fifty-two week low of $10.75 and a fifty-two week high of $25.96. The stock’s fifty day simple moving average is $13.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 9.70 and a quick ratio of 9.70.
A number of institutional investors and hedge funds have recently modified their holdings of RCKT. Spark Investment Management LLC purchased a new position in shares of Rocket Pharmaceuticals in the first quarter valued at approximately $564,000. Zeke Capital Advisors LLC purchased a new position in Rocket Pharmaceuticals during the second quarter worth approximately $153,000. Group One Trading L.P. lifted its position in Rocket Pharmaceuticals by 103.6% during the first quarter. Group One Trading L.P. now owns 1,999 shares of the biotechnology company’s stock worth $35,000 after buying an additional 1,017 shares in the last quarter. Northern Trust Corp lifted its position in Rocket Pharmaceuticals by 5.3% during the fourth quarter. Northern Trust Corp now owns 287,320 shares of the biotechnology company’s stock worth $4,258,000 after buying an additional 14,470 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Rocket Pharmaceuticals by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 89,159 shares of the biotechnology company’s stock worth $1,321,000 after buying an additional 10,764 shares in the last quarter. 85.22% of the stock is currently owned by institutional investors.
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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