Rocket Pharmaceuticals (NASDAQ:RCKT) Downgraded to “Hold” at ValuEngine
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.
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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