Rocket Pharmaceuticals (NASDAQ:RCKT) Receives Buy Rating from William Blair
William Blair reaffirmed their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research note released on Tuesday morning, TipRanks reports.
Other equities analysts also recently issued reports about the company. Oppenheimer lowered their target price on Rocket Pharmaceuticals from $39.00 to $37.00 and set an outperform rating on the stock in a research report on Tuesday, August 13th. ValuEngine upgraded Rocket Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research raised Rocket Pharmaceuticals from a hold rating to a buy rating and set a $13.00 price objective on the stock in a research note on Tuesday, August 13th. Ten equities research analysts have rated the stock with a buy rating, Rocket Pharmaceuticals has a consensus rating of Buy and an average target price of $28.00.
Shares of Rocket Pharmaceuticals stock traded up $0.42 on Tuesday, hitting $13.57. 245,663 shares of the company’s stock were exchanged, compared to its average volume of 302,602. Rocket Pharmaceuticals has a 1 year low of $10.75 and a 1 year high of $25.96. The company has a 50-day simple moving average of $11.68 and a 200-day simple moving average of $15.34. The company has a debt-to-equity ratio of 0.18, a quick ratio of 17.48 and a current ratio of 17.48. The stock has a market capitalization of $683.22 million, a PE ratio of -7.18 and a beta of 2.71.
Several institutional investors and hedge funds have recently bought and sold shares of the business. Group One Trading L.P. increased its stake in shares of Rocket Pharmaceuticals by 103.6% in the first quarter. Group One Trading L.P. now owns 1,999 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 1,017 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter valued at $38,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Rocket Pharmaceuticals during the 2nd quarter valued at $86,000. BNP Paribas Arbitrage SA purchased a new position in shares of Rocket Pharmaceuticals during the 1st quarter valued at $87,000. Finally, Atria Investments LLC bought a new position in Rocket Pharmaceuticals in the 2nd quarter worth $108,000. Institutional investors and hedge funds own 97.15% of the company’s stock.
About Rocket Pharmaceuticals
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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