Rocket Pharmaceuticals’ (RCKT) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a report issued on Tuesday morning,Benzinga reports. Cantor Fitzgerald currently has a $65.00 price objective on the biotechnology company’s stock.

Several other analysts have also recently issued reports on the company. Chardan Capital reissued a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday. Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, September 30th. Finally, Scotiabank began coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.00.

Rocket Pharmaceuticals Stock Down 3.7 %

Shares of NASDAQ:RCKT opened at $13.16 on Tuesday. The stock’s 50-day moving average price is $17.50 and its 200-day moving average price is $20.03. Rocket Pharmaceuticals has a 12-month low of $13.07 and a 12-month high of $32.53. The stock has a market capitalization of $1.20 billion, a P/E ratio of -4.79 and a beta of 1.09. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.

Institutional Trading of Rocket Pharmaceuticals

Large investors have recently bought and sold shares of the company. Novo Holdings A S boosted its position 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 acquiring an additional 50,000 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Rocket Pharmaceuticals during the second quarter valued at approximately $2,144,000. Maverick Capital Ltd. lifted its holdings in shares of Rocket Pharmaceuticals by 1.0% during the second quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company’s stock valued at $84,577,000 after purchasing an additional 40,000 shares during the last quarter. First Turn Management LLC lifted its holdings in shares of Rocket Pharmaceuticals by 10.8% during the third quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock valued at $11,476,000 after purchasing an additional 60,317 shares during the last quarter. Finally, Privium Fund Management B.V. lifted its holdings in shares of Rocket Pharmaceuticals by 17.5% during the third quarter. Privium Fund Management B.V. now owns 294,800 shares of the biotechnology company’s stock valued at $5,445,000 after purchasing an additional 43,820 shares during the last quarter. 98.39% of the stock is owned by institutional investors.

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.