ValuEngine lowered shares of Rocket Pharmaceuticals (NASDAQ:RCKT) from a buy rating to a hold rating in a report issued on Thursday morning, ValuEngine reports.

A number of other equities analysts have also weighed in on RCKT. Chardan Capital reissued a buy rating and issued a $33.00 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 11th. Zacks Investment Research raised shares of Rocket Pharmaceuticals from a hold rating to a buy rating and set a $23.00 price target for the company in a research report on Friday, June 19th. Oppenheimer initiated coverage on shares of Rocket Pharmaceuticals in a research report on Monday, June 1st. They issued a buy rating for the company. BidaskClub raised shares of Rocket Pharmaceuticals from a hold rating to a buy rating in a research report on Tuesday, June 23rd. Finally, Bank of America initiated coverage on shares of Rocket Pharmaceuticals in a research report on Thursday, June 25th. They issued a buy rating and a $34.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $35.17.

Shares of NASDAQ RCKT traded up $2.05 on Thursday, hitting $22.55. The company’s stock had a trading volume of 481,953 shares, compared to its average volume of 587,190. Rocket Pharmaceuticals has a 12-month low of $9.01 and a 12-month high of $27.59. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -14.09 and a beta of 2.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 13.25 and a quick ratio of 13.25. The stock has a 50 day moving average of $19.65 and a 200-day moving average of $19.37.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.03. Sell-side analysts expect that Rocket Pharmaceuticals will post -1.95 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Virtus ETF Advisers LLC boosted its stake in shares of Rocket Pharmaceuticals by 20.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 18,806 shares of the biotechnology company’s stock valued at $428,000 after purchasing an additional 3,143 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Rocket Pharmaceuticals by 171.7% in the first quarter. Nuveen Asset Management LLC now owns 298,777 shares of the biotechnology company’s stock valued at $4,168,000 after purchasing an additional 188,830 shares during the period. Deutsche Bank AG boosted its stake in shares of Rocket Pharmaceuticals by 98.1% in the first quarter. Deutsche Bank AG now owns 524,184 shares of the biotechnology company’s stock valued at $7,312,000 after purchasing an additional 259,637 shares during the period. Vivo Capital LLC purchased a new position in shares of Rocket Pharmaceuticals in the first quarter valued at $12,006,000. Finally, Farallon Capital Management LLC purchased a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at $8,059,000. Institutional investors and hedge funds own 96.70% of the company’s stock.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company that focuses on developing gene therapies for rare and devastating pediatric diseases. It has clinical-stage lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; and leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction It also has additional pre-clinical stage LVV programs include pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia; and infantile malignant osteopetrosis, a genetic disorder characterized by increased bone density and bone mass secondary to impaired bone resorption.

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Analyst Recommendations for Rocket Pharmaceuticals (NASDAQ:RCKT)

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