Rocket Pharmaceuticals’ (RCKT) “Buy” Rating Reaffirmed at Chardan Capital

Chardan Capital restated their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research note published on Monday morning,Benzinga reports. They currently have a $62.00 target price on the biotechnology company’s stock. Chardan Capital also issued estimates for Rocket Pharmaceuticals’ FY2024 earnings at ($2.80) EPS and FY2025 earnings at ($2.75) EPS.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. raised their price objective on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Needham & Company LLC restated a “buy” rating and set a $52.00 price target on shares of Rocket Pharmaceuticals in a report on Friday, November 8th. Canaccord Genuity Group reiterated a “buy” rating and issued a $38.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, September 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Finally, Scotiabank assumed coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Rocket Pharmaceuticals Stock Performance

Shares of Rocket Pharmaceuticals stock opened at $14.82 on Monday. Rocket Pharmaceuticals has a 12 month low of $14.65 and a 12 month high of $32.53. The company has a quick ratio of 7.79, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.35 billion, a PE ratio of -5.39 and a beta of 1.09. The business has a fifty day simple moving average of $17.84 and a 200-day simple moving average of $20.25.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in RCKT. Westfield Capital Management Co. LP boosted its holdings in shares of Rocket Pharmaceuticals by 3.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock worth $83,001,000 after buying an additional 165,911 shares during the period. Maverick Capital Ltd. grew its position in shares of Rocket Pharmaceuticals by 4.8% in the third quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock valued at $76,072,000 after purchasing an additional 190,360 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Rocket Pharmaceuticals by 11.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock worth $79,290,000 after purchasing an additional 314,086 shares during the period. Janus Henderson Group PLC lifted its position in shares of Rocket Pharmaceuticals by 174.3% during the 1st quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock worth $70,170,000 after purchasing an additional 1,656,111 shares during the last quarter. Finally, Novo Holdings A S boosted its stake in Rocket Pharmaceuticals by 4.8% during the 2nd quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock valued at $23,683,000 after purchasing an additional 50,000 shares during the period. Institutional investors own 98.39% of the company’s stock.

About Rocket Pharmaceuticals

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.