Rocket Pharmaceuticals (NASDAQ:RCKT) PT Raised to $62.00 at Chardan Capital

Rocket Pharmaceuticals (NASDAQ:RCKTGet Rating) had its price objective raised by research analysts at Chardan Capital from $60.00 to $62.00 in a note issued to investors on Thursday, The Fly reports.

Several other analysts also recently commented on the stock. Stifel Nicolaus raised their target price on shares of Rocket Pharmaceuticals from $63.00 to $67.00 in a report on Thursday. William Blair reaffirmed an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Thursday, May 5th. StockNews.com began coverage on shares of Rocket Pharmaceuticals in a research note on Thursday, March 31st. They set a “sell” rating for the company. Needham & Company LLC decreased their price target on shares of Rocket Pharmaceuticals from $75.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Zacks Investment Research cut shares of Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, April 27th. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $63.75.

RCKT stock traded up $0.05 during mid-day trading on Thursday, hitting $9.99. 2,016,311 shares of the company were exchanged, compared to its average volume of 561,592. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.68 and a current ratio of 15.68. The firm has a market cap of $657.72 million, a P/E ratio of -3.70 and a beta of 1.92. The firm’s 50 day simple moving average is $13.10 and its 200 day simple moving average is $18.88. Rocket Pharmaceuticals has a 1-year low of $7.57 and a 1-year high of $49.66.

Rocket Pharmaceuticals (NASDAQ:RCKTGet Rating) last announced its earnings results on Thursday, May 5th. The biotechnology company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.04. During the same quarter last year, the company earned ($0.65) EPS. On average, equities research analysts predict that Rocket Pharmaceuticals will post -2.7 EPS for the current fiscal year.

In related news, insider Jonathan David Schwartz sold 45,000 shares of the firm’s stock in a transaction on Wednesday, March 30th. The shares were sold at an average price of $16.41, for a total value of $738,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 36.50% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Rocket Pharmaceuticals by 1.5% during the third quarter. BlackRock Inc. now owns 3,218,491 shares of the biotechnology company’s stock worth $96,199,000 after purchasing an additional 48,359 shares during the period. Rafferty Asset Management LLC boosted its position in Rocket Pharmaceuticals by 56.1% during the third quarter. Rafferty Asset Management LLC now owns 88,194 shares of the biotechnology company’s stock worth $2,636,000 after purchasing an additional 31,707 shares during the period. Toronto Dominion Bank bought a new position in Rocket Pharmaceuticals during the fourth quarter worth $886,000. M28 Capital Management LP bought a new position in Rocket Pharmaceuticals during the fourth quarter worth $10,812,000. Finally, Two Sigma Advisers LP boosted its position in Rocket Pharmaceuticals by 10.5% during the third quarter. Two Sigma Advisers LP now owns 194,451 shares of the biotechnology company’s stock worth $5,812,000 after purchasing an additional 18,400 shares during the period.

About Rocket Pharmaceuticals (Get Rating)

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.

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