Rocket Pharmaceuticals (NASDAQ:RCKT) Given New $54.00 Price Target at Chardan Capital

Rocket Pharmaceuticals (NASDAQ:RCKT) had its target price dropped by research analysts at Chardan Capital from $62.00 to $54.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Chardan Capital’s target price suggests a potential upside of 463.85% from the stock’s previous close.

RCKT has been the topic of several other reports. Needham & Company LLC cut their target price on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Jefferies Financial Group began coverage on Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $29.00 target price on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $39.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Finally, Wedbush began coverage on shares of Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price objective for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.64.

Rocket Pharmaceuticals Trading Up 1.9 %

Shares of NASDAQ:RCKT traded up $0.18 on Friday, reaching $9.58. 267,282 shares of the company traded hands, compared to its average volume of 1,394,268. The business’s 50-day simple moving average is $10.94 and its 200 day simple moving average is $14.78. Rocket Pharmaceuticals has a 52 week low of $8.94 and a 52 week high of $31.24. The stock has a market capitalization of $873.01 million, a P/E ratio of -3.47 and a beta of 0.98. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.06. As a group, equities analysts anticipate that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in Rocket Pharmaceuticals by 796.2% during the fourth quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company’s stock valued at $690,000 after purchasing an additional 48,793 shares in the last quarter. Jennison Associates LLC increased its position in Rocket Pharmaceuticals by 72.6% during the fourth quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company’s stock valued at $884,000 after acquiring an additional 29,564 shares during the last quarter. Mirador Capital Partners LP increased its position in Rocket Pharmaceuticals by 403.9% during the fourth quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company’s stock valued at $1,063,000 after acquiring an additional 67,755 shares during the last quarter. First Turn Management LLC increased its position in 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 acquiring an additional 60,317 shares during the last quarter. Finally, Sovran Advisors LLC bought a new position in Rocket Pharmaceuticals during the fourth quarter valued at $1,895,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

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.