Chardan Capital Has Lowered Expectations for Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Price

Rocket Pharmaceuticals (NASDAQ:RCKT - Free Report) had its target price trimmed by Chardan Capital from $62.00 to $54.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the biotechnology company's stock.

Several other research firms have also recently weighed in on RCKT. Cantor Fitzgerald restated an "overweight" rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Wedbush started coverage on shares of Rocket Pharmaceuticals in a research report on Monday, December 30th. They issued an "outperform" rating and a $32.00 price objective on the stock. 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. Canaccord Genuity Group reiterated a "buy" rating and issued a $39.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Finally, Needham & Company LLC lowered their price objective on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a "buy" rating for the company in a research note on Friday. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.30.

Remove Ads

Rocket Pharmaceuticals Stock Down 1.5 %

Shares of NASDAQ:RCKT traded down $0.13 during trading on Friday, reaching $8.66. 1,741,871 shares of the stock traded hands, compared to its average volume of 1,448,041. The stock has a market cap of $789.42 million, a P/E ratio of -3.15 and a beta of 0.98. The stock has a 50-day moving average of $10.84 and a two-hundred day moving average of $14.59. 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 quick ratio of 6.05 and a current ratio of 6.05.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.06. As a group, sell-side analysts expect that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC increased its holdings in Rocket Pharmaceuticals by 796.2% during the 4th quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company's stock worth $690,000 after purchasing an additional 48,793 shares during the period. Jennison Associates LLC boosted its holdings in shares of Rocket Pharmaceuticals by 72.6% in the 4th quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company's stock valued at $884,000 after buying an additional 29,564 shares in the last quarter. Mirador Capital Partners LP boosted its stake in Rocket Pharmaceuticals by 403.9% in the fourth quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company's stock valued at $1,063,000 after acquiring an additional 67,755 shares in the last quarter. First Turn Management LLC grew its stake in Rocket Pharmaceuticals by 10.8% during the 3rd quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company's stock worth $11,476,000 after buying an additional 60,317 shares during the last quarter. Finally, Sovran Advisors LLC purchased a new position in shares of Rocket Pharmaceuticals during the fourth quarter worth approximately $1,895,000. Hedge funds and other 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.