Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) dropped 15.6% during trading on Monday . The stock traded as low as $6.36 and last traded at $6.40. Approximately 507,961 shares changed hands during trading, a decline of 51% from the average daily volume of 1,043,319 shares. The stock had previously closed at $7.59.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on RCKT. Scotiabank raised their price objective on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a "sector outperform" rating in a report on Monday, March 3rd. BMO Capital Markets started coverage on Rocket Pharmaceuticals in a report on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 target price on the stock. The Goldman Sachs Group cut their price target on Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Wedbush started coverage on Rocket Pharmaceuticals in a research note on Monday, December 30th. They set an "outperform" rating and a $32.00 price objective for the company. Finally, Needham & Company LLC dropped their price target on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a "buy" rating for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $43.00.
Get Our Latest Stock Report on RCKT
Rocket Pharmaceuticals Trading Down 7.9 %
The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The stock has a 50-day moving average price of $9.27 and a two-hundred day moving average price of $12.91. The stock has a market cap of $545.95 million, a PE ratio of -1.86 and a beta of 1.00.
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, topping the consensus estimate of ($0.68) by $0.06. Sell-side analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Rocket Pharmaceuticals
Hedge funds and other institutional investors have recently made changes to their positions in the company. Covestor Ltd boosted its stake in shares of Rocket Pharmaceuticals by 33,166.7% during the 4th quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company's stock worth $25,000 after purchasing an additional 1,990 shares during the period. Signaturefd LLC boosted its position in shares of Rocket Pharmaceuticals by 319.8% during 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 during the period. Harbour Investments Inc. grew its stake in shares of Rocket Pharmaceuticals by 51.9% during 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 during the last quarter. KBC Group NV raised its holdings 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 worth $69,000 after buying an additional 3,366 shares during the period. Finally, Virtus ETF Advisers LLC lifted its stake in shares of Rocket Pharmaceuticals by 40.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company's stock worth $71,000 after acquiring an additional 1,628 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company's stock.
About Rocket Pharmaceuticals
(
Get Free Report)
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.
Read More
Before you consider Rocket Pharmaceuticals, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rocket Pharmaceuticals wasn't on the list.
While Rocket Pharmaceuticals currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
