Rocket Pharmaceuticals (NASDAQ:RCKT) Given New $15.00 Price Target at The Goldman Sachs Group

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) had its target price lowered by research analysts at The Goldman Sachs Group from $29.00 to $15.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the biotechnology company's stock. The Goldman Sachs Group's price objective suggests a potential upside of 66.85% from the company's previous close.

Several other analysts have also recently commented on the stock. Scotiabank boosted their price target on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a "sector outperform" rating in a research note on Monday. Leerink Partners dropped their price target 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. Canaccord Genuity Group reduced their price objective on Rocket Pharmaceuticals from $39.00 to $36.00 and set a "buy" rating on the stock in a research note on Monday. Jefferies Financial Group started coverage on Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They set a "buy" rating and a $29.00 target price for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Rocket Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $42.30.

Remove Ads

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ RCKT traded down $0.22 during mid-day trading on Monday, reaching $8.99. The company's stock had a trading volume of 1,557,491 shares, compared to its average volume of 1,451,782. The stock has a fifty day moving average of $10.73 and a two-hundred day moving average of $14.48. The firm has a market capitalization of $819.50 million, a PE ratio of -3.27 and a beta of 0.98. Rocket Pharmaceuticals has a 52 week low of $8.25 and a 52 week high of $28.73. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.68) by $0.06. As a group, sell-side analysts anticipate that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 worth $61,000 after acquiring an additional 582 shares during the last quarter. Rhumbline Advisers raised its position in Rocket Pharmaceuticals by 1.3% in the 4th quarter. Rhumbline Advisers now owns 99,339 shares of the biotechnology company's stock worth $1,249,000 after purchasing an additional 1,242 shares during the period. Envestnet Asset Management Inc. lifted its stake in Rocket Pharmaceuticals by 4.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company's stock worth $408,000 after purchasing an additional 1,280 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Rocket Pharmaceuticals by 8.4% during the fourth quarter. Arizona State Retirement System now owns 19,826 shares of the biotechnology company's stock valued at $249,000 after buying an additional 1,528 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Rocket Pharmaceuticals by 1.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,633 shares of the biotechnology company's stock valued at $2,210,000 after buying an additional 1,561 shares during the period. 98.39% of the stock is 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.