Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives $72.83 Average Target Price from Brokerages

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been assigned a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $72.83.

RCKT has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, August 10th. Chardan Capital reaffirmed a “buy” rating on shares of Rocket Pharmaceuticals in a report on Tuesday, September 7th. William Blair reaffirmed a “buy” rating on shares of Rocket Pharmaceuticals in a report on Tuesday, August 10th. Finally, SVB Leerink reaffirmed a “buy” rating on shares of Rocket Pharmaceuticals in a report on Sunday, September 19th.

NASDAQ RCKT traded up $0.21 on Monday, hitting $28.24. 8 shares of the stock traded hands, compared to its average volume of 440,170. The business’s fifty day moving average is $32.00 and its two-hundred day moving average is $39.36. Rocket Pharmaceuticals has a 12 month low of $26.72 and a 12 month high of $67.48. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -9.98 and a beta of 1.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 16.92 and a current ratio of 16.92.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Monday, August 9th. The biotechnology company reported ($0.55) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.66) by $0.11. During the same period in the prior year, the business earned ($0.45) earnings per share. Analysts expect that Rocket Pharmaceuticals will post -2.38 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Legal & General Group Plc boosted its position in Rocket Pharmaceuticals by 1.7% during the 2nd quarter. Legal & General Group Plc now owns 22,115 shares of the biotechnology company’s stock valued at $980,000 after acquiring an additional 373 shares in the last quarter. Victory Capital Management Inc. boosted its position in Rocket Pharmaceuticals by 5.1% during the 2nd quarter. Victory Capital Management Inc. now owns 9,390 shares of the biotechnology company’s stock valued at $416,000 after acquiring an additional 457 shares in the last quarter. First Mercantile Trust Co. boosted its position in Rocket Pharmaceuticals by 28.4% during the 1st quarter. First Mercantile Trust Co. now owns 2,112 shares of the biotechnology company’s stock valued at $94,000 after acquiring an additional 467 shares in the last quarter. Wells Fargo & Company MN boosted its position in Rocket Pharmaceuticals by 2.2% during the 2nd quarter. Wells Fargo & Company MN now owns 26,388 shares of the biotechnology company’s stock valued at $1,169,000 after acquiring an additional 560 shares in the last quarter. Finally, Swiss National Bank boosted its position in Rocket Pharmaceuticals by 0.9% during the 1st quarter. Swiss National Bank now owns 69,400 shares of the biotechnology company’s stock valued at $3,079,000 after acquiring an additional 600 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc is a clinical-stage biotechnology company, which engages in the development of gene therapy treatment options for rare and devastating pediatric diseases. Its multi-platform development approach applies the lentiviral vector (LVV) and adeno-associated viral vector (AAV) gene therapy platforms.

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Analyst Recommendations for Rocket Pharmaceuticals (NASDAQ:RCKT)

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