Rocket Pharmaceuticals’ (RCKT) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research report report published on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a $39.00 price target on the biotechnology company’s stock.

Several other brokerages also recently commented on RCKT. Chardan Capital reiterated a “buy” rating and set a $62.00 price target on shares of Rocket Pharmaceuticals in a report on Monday. Leerink Partners lowered their target price on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday. Finally, Scotiabank initiated coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $51.00.

Rocket Pharmaceuticals Stock Performance

RCKT opened at $13.00 on Tuesday. The stock has a 50-day moving average of $17.38 and a 200-day moving average of $19.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. Rocket Pharmaceuticals has a 52-week low of $12.62 and a 52-week high of $32.53. The company has a market cap of $1.19 billion, a PE ratio of -4.73 and a beta of 1.09.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Rocket Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after buying an additional 582 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Rocket Pharmaceuticals by 31.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 764 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter worth about $108,000. SG Americas Securities LLC acquired a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter worth about $113,000. Finally, XTX Topco Ltd bought a new position in Rocket Pharmaceuticals during the 3rd quarter valued at about $286,000. 98.39% of the stock is owned by institutional investors and hedge funds.

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.