Brokerages Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Price Target at $43.00

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twelve ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $43.00.

Several equities analysts have recently weighed in on RCKT shares. BMO Capital Markets initiated coverage on Rocket Pharmaceuticals in a report on Wednesday. They issued an "outperform" rating and a $50.00 price objective for the company. Leerink Partners reduced their price target on Rocket Pharmaceuticals from $46.00 to $44.00 and set an "outperform" rating for the company in a report on Tuesday, November 19th. Wedbush initiated coverage on Rocket Pharmaceuticals in a report on Monday, December 30th. They set an "outperform" rating and a $32.00 price target for the company. Jefferies Financial Group initiated coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a "buy" rating and a $29.00 price target for the company. Finally, Scotiabank lifted their price target on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a "sector outperform" rating in a report on Monday, March 3rd.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd raised its position in shares of Rocket Pharmaceuticals by 33,166.7% in the fourth quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company's stock valued at $25,000 after buying an additional 1,990 shares in the last quarter. Signaturefd LLC raised its position in shares of Rocket Pharmaceuticals by 319.8% in the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company's stock valued at $62,000 after buying an additional 3,745 shares in the last quarter. Harbour Investments Inc. raised its position in shares of Rocket Pharmaceuticals by 51.9% in the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company's stock valued at $68,000 after buying an additional 1,840 shares in the last quarter. KBC Group NV raised its position in shares of Rocket Pharmaceuticals by 159.6% in the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company's stock valued at $69,000 after buying an additional 3,366 shares in the last quarter. Finally, Virtus ETF Advisers LLC raised its position in shares of Rocket Pharmaceuticals by 40.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company's stock valued at $71,000 after buying an additional 1,628 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

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Rocket Pharmaceuticals Stock Up 3.1 %

Shares of NASDAQ RCKT traded up $0.26 during mid-day trading on Friday, hitting $8.76. The company had a trading volume of 1,069,525 shares, compared to its average volume of 987,141. The company has a market capitalization of $934.08 million, a PE ratio of -3.19 and a beta of 1.03. The firm has a 50-day simple moving average of $10.30 and a two-hundred day simple moving average of $14.08. 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 one year low of $8.06 and a one year high of $28.67.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.06. On average, equities analysts expect that Rocket Pharmaceuticals will post -2.83 EPS for the current year.

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.