Rocket Pharmaceuticals (NASDAQ:RCKT – Get Rating) had its target price boosted by Chardan Capital from $62.00 to $65.00 in a research note issued to investors on Friday morning, The Fly reports. Chardan Capital currently has a buy rating on the biotechnology company's stock.

RCKT has been the subject of several other reports. UBS Group dropped their target price on Rocket Pharmaceuticals from $68.00 to $62.00 and set a buy rating for the company in a research report on Tuesday, September 27th. Raymond James raised their price objective on Rocket Pharmaceuticals from $22.00 to $24.00 and gave the stock an outperform rating in a research report on Tuesday, August 9th. Evercore ISI raised their price objective on Rocket Pharmaceuticals from $65.00 to $75.00 in a research report on Friday. Finally, SVB Leerink lowered their price objective on Rocket Pharmaceuticals from $66.00 to $64.00 and set an outperform rating for the company in a research report on Wednesday, July 6th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $59.86.

Rocket Pharmaceuticals Price Performance

Rocket Pharmaceuticals stock opened at $15.50 on Friday. The company has a current ratio of 13.41, a quick ratio of 13.41 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.02 billion, a PE ratio of -5.20 and a beta of 1.49. Rocket Pharmaceuticals has a 12 month low of $7.57 and a 12 month high of $36.87. The stock has a 50-day moving average price of $15.40 and a two-hundred day moving average price of $13.92.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its holdings in Rocket Pharmaceuticals by 31.2% in the second quarter. Legal & General Group Plc now owns 38,973 shares of the biotechnology company's stock worth $536,000 after purchasing an additional 9,274 shares in the last quarter. PDT Partners LLC increased its holdings in Rocket Pharmaceuticals by 75.5% in the second quarter. PDT Partners LLC now owns 112,729 shares of the biotechnology company's stock worth $1,551,000 after purchasing an additional 48,505 shares in the last quarter. Millennium Management LLC increased its holdings in Rocket Pharmaceuticals by 323.2% in the second quarter. Millennium Management LLC now owns 97,610 shares of the biotechnology company's stock worth $1,343,000 after purchasing an additional 74,545 shares in the last quarter. Alpha Paradigm Partners LLC increased its holdings in Rocket Pharmaceuticals by 222.7% in the second quarter. Alpha Paradigm Partners LLC now owns 110,145 shares of the biotechnology company's stock worth $1,516,000 after purchasing an additional 76,009 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Rocket Pharmaceuticals in the second quarter valued at approximately $319,000. 98.02% of the stock is currently owned by institutional investors.

About Rocket Pharmaceuticals

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Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform 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.

Further Reading

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