Rocket Pharmaceuticals (NASDAQ:RCKT) Receives “Buy” Rating from Cowen

Rocket Pharmaceuticals (NASDAQ:RCKT)‘s stock had its “buy” rating restated by equities research analysts at Cowen in a note issued to investors on Thursday, AnalystRatings.com reports.

A number of other brokerages have also issued reports on RCKT. Piper Jaffray Companies began coverage on shares of Rocket Pharmaceuticals in a research note on Thursday, September 26th. They set an “overweight” rating on the stock. Oppenheimer lowered their target price on shares of Rocket Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Chardan Capital began coverage on shares of Rocket Pharmaceuticals in a research report on Tuesday. They set a “buy” rating and a $30.00 target price on the stock. William Blair restated a “buy” rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, September 10th. Finally, Zacks Investment Research lowered shares of Rocket Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, October 26th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $28.33.

Shares of NASDAQ:RCKT traded up $0.44 on Thursday, reaching $15.29. The company’s stock had a trading volume of 2,819 shares, compared to its average volume of 219,521. The stock’s 50-day moving average is $12.91 and its two-hundred day moving average is $14.20. Rocket Pharmaceuticals has a 52-week low of $10.75 and a 52-week high of $20.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 17.48 and a quick ratio of 17.48. The stock has a market capitalization of $717.47 million, a P/E ratio of -8.09 and a beta of 2.74.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.10. Equities analysts forecast that Rocket Pharmaceuticals will post -1.93 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of RCKT. Lindbrook Capital LLC grew its position in Rocket Pharmaceuticals by 200.0% during the third quarter. Lindbrook Capital LLC now owns 3,000 shares of the biotechnology company’s stock worth $35,000 after buying an additional 2,000 shares during the period. Bank of Montreal Can purchased a new stake in shares of Rocket Pharmaceuticals in the second quarter valued at about $38,000. Tower Research Capital LLC TRC lifted its holdings in shares of Rocket Pharmaceuticals by 1,107.4% in the third quarter. Tower Research Capital LLC TRC now owns 4,250 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 3,898 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Rocket Pharmaceuticals in the second quarter valued at about $86,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Rocket Pharmaceuticals in the third quarter valued at about $88,000. Institutional investors own 96.72% of the company’s stock.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company that focuses on developing gene therapies for rare and devastating pediatric diseases. It has clinical-stage lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; and leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction It also has additional pre-clinical stage LVV programs include pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia; and infantile malignant osteopetrosis, a genetic disorder characterized by increased bone density and bone mass secondary to impaired bone resorption.

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Analyst Recommendations for Rocket Pharmaceuticals (NASDAQ:RCKT)

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