Rocket Pharmaceuticals' (RCKT) "Overweight" Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT - Free Report) in a research report report published on Tuesday,Benzinga reports. They currently have a $65.00 price objective on the biotechnology company's stock.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an "overweight" rating in a research report on Tuesday, August 6th. Scotiabank began coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They set a "sector outperform" rating and a $50.00 price objective for the company. Canaccord Genuity Group reissued a "buy" rating and set a $38.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. Needham & Company LLC reissued a "buy" rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday. Finally, Chardan Capital reissued a "buy" rating and set a $62.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $51.00.

Rocket Pharmaceuticals Stock Performance

NASDAQ:RCKT traded down $0.50 during trading hours on Tuesday, reaching $13.16. The company had a trading volume of 1,816,448 shares, compared to its average volume of 790,355. 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 has a 52 week low of $13.07 and a 52 week high of $32.53. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -4.79 and a beta of 1.09. The firm's 50 day moving average price is $17.50 and its 200-day moving average price is $20.03.

Institutional Trading of Rocket Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Novo Holdings A S raised its position in shares of Rocket Pharmaceuticals by 4.8% during the 2nd quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company's stock valued at $23,683,000 after buying an additional 50,000 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter valued at about $2,144,000. Maverick Capital Ltd. raised its position in shares of Rocket Pharmaceuticals by 1.0% during the 2nd quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company's stock valued at $84,577,000 after buying an additional 40,000 shares in the last quarter. Privium Fund Management B.V. raised its position in shares of Rocket Pharmaceuticals by 17.5% during the 3rd quarter. Privium Fund Management B.V. now owns 294,800 shares of the biotechnology company's stock valued at $5,445,000 after buying an additional 43,820 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Rocket Pharmaceuticals by 73.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 168,506 shares of the biotechnology company's stock valued at $3,112,000 after buying an additional 71,372 shares in the last quarter. Hedge funds and other institutional investors own 98.39% of the company's stock.

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.