Rocket Pharmaceuticals’ (RCKT) “Buy” Rating Reaffirmed at William Blair

Rocket Pharmaceuticals (NASDAQ:RCKT)‘s stock had its “buy” rating reaffirmed by William Blair in a report released on Wednesday.

RCKT has been the topic of several other research reports. Zacks Investment Research cut shares of Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. LADENBURG THALM/SH SH initiated coverage on shares of Rocket Pharmaceuticals in a research note on Thursday, September 13th. They set a “buy” rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $28.50.

RCKT traded up $0.80 during midday trading on Wednesday, hitting $18.44. 304,717 shares of the company traded hands, compared to its average volume of 304,621. The company has a debt-to-equity ratio of 0.25, a quick ratio of 13.27 and a current ratio of 13.27. Rocket Pharmaceuticals has a 52 week low of $7.84 and a 52 week high of $25.96.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.04). On average, sell-side analysts predict that Rocket Pharmaceuticals will post -1.75 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Rocket Pharmaceuticals by 1,462.8% during the 2nd quarter. BlackRock Inc. now owns 1,305,876 shares of the biotechnology company’s stock valued at $25,635,000 after acquiring an additional 1,222,314 shares during the period. Citadel Advisors LLC lifted its stake in shares of Rocket Pharmaceuticals by 97.6% in the 2nd quarter. Citadel Advisors LLC now owns 829,066 shares of the biotechnology company’s stock worth $16,275,000 after purchasing an additional 409,564 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Rocket Pharmaceuticals by 57.2% in the 2nd quarter. Renaissance Technologies LLC now owns 263,645 shares of the biotechnology company’s stock worth $5,175,000 after purchasing an additional 95,970 shares during the period. Northern Trust Corp lifted its stake in shares of Rocket Pharmaceuticals by 622.2% in the 2nd quarter. Northern Trust Corp now owns 239,036 shares of the biotechnology company’s stock worth $4,693,000 after purchasing an additional 205,938 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Rocket Pharmaceuticals by 67.8% in the 2nd quarter. Millennium Management LLC now owns 93,162 shares of the biotechnology company’s stock worth $1,829,000 after purchasing an additional 37,656 shares during the period. Institutional investors and hedge funds own 84.82% 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 two lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells; and three LVV programs for the treatment of other rare genetic diseases, as well as an adeno-associated viral vector program, which is under preclinical development.

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