Rocket Pharmaceuticals (NASDAQ:RCKT) Receives New Coverage from Analysts at Scotiabank

Stock analysts at Scotiabank started coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research note issued to investors on Wednesday, Briefing.com reports. The firm set a “sector outperform” rating on the biotechnology company’s stock.

Several other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Chardan Capital reiterated a “buy” rating and set a $62.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Rocket Pharmaceuticals Trading Down 1.3 %

Rocket Pharmaceuticals stock opened at $16.68 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 7.79 and a current ratio of 7.79. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -5.81 and a beta of 1.09. Rocket Pharmaceuticals has a 1 year low of $15.98 and a 1 year high of $32.53. The firm’s 50 day moving average price is $18.58 and its two-hundred day moving average price is $21.29.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.02). During the same period in the previous year, the firm posted ($0.82) EPS. On average, research analysts predict that Rocket Pharmaceuticals will post -2.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in shares of Rocket Pharmaceuticals by 2.2% in the 4th quarter. Wellington Management Group LLP now owns 8,197,546 shares of the biotechnology company’s stock valued at $245,680,000 after purchasing an additional 174,716 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Rocket Pharmaceuticals by 18.3% in the 4th quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock valued at $163,264,000 after purchasing an additional 843,552 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Rocket Pharmaceuticals by 1.1% in the 1st quarter. Westfield Capital Management Co. LP now owns 3,984,030 shares of the biotechnology company’s stock valued at $107,330,000 after purchasing an additional 42,171 shares during the last quarter. Maverick Capital Ltd. lifted its stake in shares of Rocket Pharmaceuticals by 1.0% in the 2nd quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company’s stock valued at $84,577,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake 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 valued at $79,290,000 after purchasing an additional 314,086 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other 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.