Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives $52.00 Consensus Target Price from Brokerages

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $52.00.

RCKT has been the topic of several recent analyst reports. Chardan Capital reissued a "buy" rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Canaccord Genuity Group reissued a "buy" rating and issued a $38.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. JPMorgan Chase & Co. raised their target price on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an "overweight" rating in a research report on Tuesday, August 6th. Cantor Fitzgerald reissued an "overweight" rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Finally, Needham & Company LLC restated a "buy" rating and set a $52.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, September 17th.

Rocket Pharmaceuticals Stock Down 1.3 %

Shares of Rocket Pharmaceuticals stock traded down $0.22 on Tuesday, hitting $16.68. The company had a trading volume of 676,524 shares, compared to its average volume of 787,289. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -5.81 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 7.79 and a current ratio of 7.79. Rocket Pharmaceuticals has a 1 year low of $15.98 and a 1 year high of $32.53. The stock has a 50 day moving average of $18.58 and a 200-day moving average of $21.29.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.02). During the same period in the previous year, the firm earned ($0.82) EPS. As a group, sell-side analysts forecast that Rocket Pharmaceuticals will post -2.97 earnings per share for the current year.

Institutional Trading of Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its holdings 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. SG Americas Securities LLC purchased a new position in Rocket Pharmaceuticals during the third quarter worth about $113,000. Dana Investment Advisors Inc. increased its stake in Rocket Pharmaceuticals by 4.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company's stock worth $298,000 after acquiring an additional 586 shares during the last quarter. Mirador Capital Partners LP purchased a new position in shares of Rocket Pharmaceuticals during the third quarter worth about $310,000. Finally, Virtu Financial LLC bought a new position in shares of Rocket Pharmaceuticals in the fourth quarter worth approximately $332,000. 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.