Cantor Fitzgerald Reaffirms “Overweight” Rating for Rocket Pharmaceuticals (NASDAQ:RCKT)

Rocket Pharmaceuticals (NASDAQ:RCKT)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued on Tuesday,Benzinga reports. They presently have a $65.00 price objective on the biotechnology company’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 398.47% from the company’s previous close.

Other analysts also recently issued reports about the stock. Scotiabank began coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $38.00 price target on shares of Rocket Pharmaceuticals in a research note on Monday, September 30th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $62.00 price target on shares of Rocket Pharmaceuticals in a research note on Monday. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.00.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $13.04 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The company has a market capitalization of $1.19 billion, a P/E ratio of -4.74 and a beta of 1.09. The company’s 50 day moving average price is $17.38 and its two-hundred day moving average price is $19.98. Rocket Pharmaceuticals has a 52 week low of $12.62 and a 52 week high of $32.53.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Rocket Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 582 shares during the period. Nisa Investment Advisors LLC boosted its position in Rocket Pharmaceuticals by 31.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 764 shares during the period. Values First Advisors Inc. bought a new position in Rocket Pharmaceuticals during the third quarter worth $108,000. SG Americas Securities LLC bought a new position in Rocket Pharmaceuticals during the third quarter worth $113,000. Finally, XTX Topco Ltd bought a new position in Rocket Pharmaceuticals during the third quarter worth $286,000. 98.39% of the stock is owned by institutional investors.

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.