Leerink Partners Cuts Rocket Pharmaceuticals (NASDAQ:RCKT) Price Target to $44.00

Rocket Pharmaceuticals (NASDAQ:RCKT - Free Report) had its target price lowered by Leerink Partners from $46.00 to $44.00 in a report issued on Tuesday morning,Benzinga reports. Leerink Partners currently has an outperform rating on the biotechnology company's stock.

Several other research firms have also issued reports on RCKT. Cantor Fitzgerald restated an "overweight" rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday. Needham & Company LLC restated a "buy" rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday. 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. Chardan Capital restated a "buy" rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $38.00 target price on shares of Rocket Pharmaceuticals in a report on Monday, September 30th. One 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.00.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock traded down $0.50 on Tuesday, reaching $13.16. The stock had a trading volume of 1,816,448 shares, compared to its average volume of 790,355. Rocket Pharmaceuticals has a 12 month low of $13.07 and a 12 month high of $32.53. The firm has a market capitalization 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 is $17.50 and its two-hundred day moving average is $20.03. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several institutional investors have recently made changes to their positions in RCKT. Mirae Asset Global Investments Co. Ltd. raised its holdings in Rocket Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company's stock valued at $61,000 after acquiring an additional 582 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Rocket Pharmaceuticals by 31.9% in the second 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 period. Values First Advisors Inc. acquired a new position in Rocket Pharmaceuticals in the third quarter valued at about $108,000. SG Americas Securities LLC bought a new stake in Rocket Pharmaceuticals during the third quarter worth about $113,000. Finally, XTX Topco Ltd acquired a new stake in Rocket Pharmaceuticals during the third quarter worth about $286,000. 98.39% of the stock is currently owned by 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.