Rocket Pharmaceuticals (NASDAQ:RCKT) Now Covered by BMO Capital Markets

BMO Capital Markets began coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $50.00 price target on the biotechnology company’s stock.

RCKT has been the topic of a number of other reports. Needham & Company LLC cut their target price on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Canaccord Genuity Group lowered their price target on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Scotiabank upped their price target on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Wedbush began coverage on Rocket Pharmaceuticals in a report on Monday, December 30th. They set an “outperform” rating and a $32.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Rocket Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Rocket Pharmaceuticals Trading Up 7.2 %

NASDAQ RCKT opened at $8.80 on Wednesday. Rocket Pharmaceuticals has a 12 month low of $8.06 and a 12 month high of $28.73. The stock has a market cap of $938.34 million, a P/E ratio of -3.20 and a beta of 1.03. The stock’s fifty day moving average price is $10.45 and its 200-day moving average price is $14.16. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.06. As a group, equities analysts forecast that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers boosted its position in Rocket Pharmaceuticals by 1.3% in the fourth quarter. Rhumbline Advisers now owns 99,339 shares of the biotechnology company’s stock worth $1,249,000 after purchasing an additional 1,242 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Rocket Pharmaceuticals by 4.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company’s stock worth $408,000 after purchasing an additional 1,280 shares during the last quarter. Arizona State Retirement System boosted its position in Rocket Pharmaceuticals by 8.4% in the fourth quarter. Arizona State Retirement System now owns 19,826 shares of the biotechnology company’s stock worth $249,000 after purchasing an additional 1,528 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Rocket Pharmaceuticals by 1.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,633 shares of the biotechnology company’s stock worth $2,210,000 after purchasing an additional 1,561 shares during the last quarter. Finally, Pier 88 Investment Partners LLC boosted its position in Rocket Pharmaceuticals by 5.1% in the third quarter. Pier 88 Investment Partners LLC now owns 32,490 shares of the biotechnology company’s stock worth $600,000 after purchasing an additional 1,590 shares during the last quarter. 98.39% of the stock is 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.