Rocket Pharmaceuticals (NASDAQ:RCKT) Price Target Cut to $49.00 by Analysts at SVB Leerink

Rocket Pharmaceuticals (NASDAQ:RCKT – Get Rating) had its price objective reduced by SVB Leerink from $50.00 to $49.00 in a research note published on Monday, Benzinga reports. They currently have an outperform rating on the biotechnology company’s stock.

Several other research firms have also recently commented on RCKT. Evercore ISI boosted their target price on Rocket Pharmaceuticals from $65.00 to $75.00 and gave the company an outperform rating in a research note on Friday, September 30th. UBS Group cut their target price on Rocket Pharmaceuticals from $68.00 to $62.00 and set a buy rating on the stock in a research note on Tuesday, September 27th. StockNews.com began coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 12th. They issued a sell rating on the stock. Needham & Company LLC cut their target price on Rocket Pharmaceuticals from $62.00 to $60.00 and set a buy rating on the stock in a research note on Friday, November 4th. Finally, Raymond James boosted their target price on Rocket Pharmaceuticals from $24.00 to $34.00 and gave the company an outperform rating in a research note on Monday, October 3rd. One research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $53.45.

Rocket Pharmaceuticals Trading Up 1.3 %

NASDAQ:RCKT opened at $20.45 on Monday. Rocket Pharmaceuticals has a fifty-two week low of $7.57 and a fifty-two week high of $23.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 10.31 and a quick ratio of 10.31. The stock has a market capitalization of $1.55 billion, a PE ratio of -6.68 and a beta of 1.43. The business’s 50-day simple moving average is $19.62 and its 200-day simple moving average is $17.42.

Rocket Pharmaceuticals (NASDAQ:RCKT – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The biotechnology company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.10). Sell-side analysts expect that Rocket Pharmaceuticals will post -2.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Rocket Pharmaceuticals during the 3rd quarter worth approximately $28,000. Great West Life Assurance Co. Can acquired a new position in shares of Rocket Pharmaceuticals during the 3rd quarter worth approximately $40,000. Point72 Hong Kong Ltd acquired a new position in shares of Rocket Pharmaceuticals during the 3rd quarter worth approximately $100,000. Amalgamated Bank acquired a new position in shares of Rocket Pharmaceuticals during the 1st quarter worth approximately $106,000. Finally, Virtus ETF Advisers LLC increased its holdings in shares of Rocket Pharmaceuticals by 44.2% during the 2nd quarter. Virtus ETF Advisers LLC now owns 9,792 shares of the biotechnology company’s stock worth $135,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.

About Rocket Pharmaceuticals

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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.