William Blair restated their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research note published on Tuesday morning, TipRanks reports.
RCKT has been the topic of several other research reports. 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 report on Tuesday, August 13th. ValuEngine raised Rocket Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, August 1st. Finally, Oppenheimer dropped their price objective on Rocket Pharmaceuticals from $39.00 to $37.00 and set an outperform rating on the stock in a report on Tuesday, August 13th. Ten investment analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and an average price target of $28.00.
Shares of RCKT stock traded up $0.24 during mid-day trading on Tuesday, hitting $14.33. 431 shares of the stock were exchanged, compared to its average volume of 246,688. The stock’s fifty day simple moving average is $11.68 and its two-hundred day simple moving average is $15.34. The stock has a market capitalization of $716.98 million, a price-to-earnings ratio of -7.53 and a beta of 2.71. Rocket Pharmaceuticals has a 12-month low of $10.75 and a 12-month high of $25.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 17.48 and a current ratio of 17.48.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC lifted its position in shares of Rocket Pharmaceuticals by 331.6% during the 2nd quarter. Perceptive Advisors LLC now owns 1,977,412 shares of the biotechnology company’s stock valued at $29,661,000 after acquiring an additional 1,519,239 shares during the period. Vivo Capital LLC acquired a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter valued at approximately $11,801,000. Westfield Capital Management Co. LP acquired a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter valued at approximately $8,462,000. BlackRock Inc. lifted its position in shares of Rocket Pharmaceuticals by 21.1% during the 2nd quarter. BlackRock Inc. now owns 2,563,600 shares of the biotechnology company’s stock valued at $38,455,000 after acquiring an additional 447,257 shares during the period. Finally, Cormorant Asset Management LP lifted its position in shares of Rocket Pharmaceuticals by 22.0% during the 2nd quarter. Cormorant Asset Management LP now owns 2,074,595 shares of the biotechnology company’s stock valued at $31,119,000 after acquiring an additional 374,595 shares during the period. 97.15% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading: Equal Weight Rating
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