Rocket Pharmaceuticals (NASDAQ:RCKT) Coverage Initiated by Analysts at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) in a report issued on Wednesday,Briefing.com Automated Import reports. The firm set an "outperform" rating and a $50.00 price target on the biotechnology company's stock.

A number of other research analysts have also issued reports on RCKT. Needham & Company LLC reduced their price objective on Rocket Pharmaceuticals from $52.00 to $42.00 and set a "buy" rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group decreased their target price on Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Leerink Partners decreased their target price on Rocket Pharmaceuticals from $46.00 to $44.00 and set an "outperform" rating for the company in a research note on Tuesday, November 19th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Finally, Jefferies Financial Group assumed coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a "buy" rating and a $29.00 target price for the company. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Rocket Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Remove Ads

Rocket Pharmaceuticals Price Performance

RCKT stock opened at $8.21 on Wednesday. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals has a 52-week low of $8.06 and a 52-week high of $28.73. The stock's 50 day moving average is $10.54 and its two-hundred day moving average is $14.23. The company has a market capitalization of $875.43 million, a PE ratio of -2.99 and a beta of 1.03.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, beating analysts' consensus estimates of ($0.68) by $0.06. Analysts predict that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in Rocket Pharmaceuticals by 24.5% in the 4th quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company's stock valued at $175,919,000 after purchasing an additional 2,753,033 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Rocket Pharmaceuticals by 18.8% in the 4th quarter. Vanguard Group Inc. now owns 6,577,595 shares of the biotechnology company's stock valued at $82,680,000 after buying an additional 1,040,655 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of Rocket Pharmaceuticals by 3.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company's stock valued at $83,001,000 after buying an additional 165,911 shares during the period. Maverick Capital Ltd. increased its stake in shares of Rocket Pharmaceuticals by 4.8% in the 3rd quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company's stock valued at $76,072,000 after buying an additional 190,360 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Rocket Pharmaceuticals by 111.0% in the 4th quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company's stock valued at $50,343,000 after buying an additional 2,106,699 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.