Analysts Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Price Target at $51.75

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) have received an average rating of "Moderate Buy" from the ten ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $51.75.

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

Institutional Trading of Rocket Pharmaceuticals

Several large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its position in Rocket Pharmaceuticals by 31.9% during 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. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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. Values First Advisors Inc. acquired a new position in Rocket Pharmaceuticals in the 3rd quarter valued at $108,000. SG Americas Securities LLC bought a new position in Rocket Pharmaceuticals in the 3rd quarter worth $113,000. Finally, Dana Investment Advisors Inc. lifted its position in Rocket Pharmaceuticals by 4.4% during 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. Institutional investors own 98.39% of the company's stock.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ RCKT traded up $0.20 during mid-day trading on Friday, reaching $17.45. The company had a trading volume of 902,588 shares, compared to its average volume of 661,944. The company has a 50-day moving average price of $18.04 and a two-hundred day moving average price of $20.44. The stock has a market cap of $1.59 billion, a PE ratio of -6.35 and a beta of 1.09. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.05. Rocket Pharmaceuticals has a 1-year low of $15.98 and a 1-year high of $32.53.

About Rocket Pharmaceuticals

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.