Rocket Pharmaceuticals (RCKT) Given a $39.00 Price Target at Oppenheimer

Oppenheimer set a $39.00 target price on Rocket Pharmaceuticals (NASDAQ:RCKT) in a report issued on Tuesday morning. The brokerage currently has a buy rating on the biotechnology company’s stock.

A number of other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Rocket Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, March 13th. Bank of America began coverage on Rocket Pharmaceuticals in a research report on Friday, March 15th. They issued a buy rating and a $27.00 price target for the company. Leerink Swann began coverage on Rocket Pharmaceuticals in a research report on Tuesday, November 27th. They issued an outperform rating and a $22.00 price target for the company. Cowen began coverage on Rocket Pharmaceuticals in a research report on Tuesday, February 26th. They issued an outperform rating for the company. Finally, CIBC began coverage on Rocket Pharmaceuticals in a research report on Tuesday, February 5th. They issued an outperform rating and a $39.00 price target for the company. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $28.83.

Shares of NASDAQ:RCKT opened at $18.50 on Tuesday. The firm has a market cap of $722.80 million, a PE ratio of -9.79 and a beta of 3.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 13.60 and a current ratio of 13.60. Rocket Pharmaceuticals has a 1 year low of $10.75 and a 1 year high of $25.96.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.21). On average, research analysts predict that Rocket Pharmaceuticals will post -2.81 earnings per share for the current fiscal year.

In other Rocket Pharmaceuticals news, insider Gaurav Shah sold 74,900 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total value of $1,286,033.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 47.67% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Teachers Advisors LLC grew its position in shares of Rocket Pharmaceuticals by 8.9% during the third quarter. Teachers Advisors LLC now owns 43,490 shares of the biotechnology company’s stock worth $1,071,000 after purchasing an additional 3,541 shares in the last quarter. FMR LLC purchased a new stake in shares of Rocket Pharmaceuticals during the third quarter worth about $26,398,000. Northern Trust Corp grew its position in shares of Rocket Pharmaceuticals by 622.2% during the second 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 in the last quarter. BlackRock Inc. grew its position in shares of Rocket Pharmaceuticals by 12.4% during the third quarter. BlackRock Inc. now owns 1,468,109 shares of the biotechnology company’s stock worth $36,146,000 after purchasing an additional 162,233 shares in the last quarter. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Rocket Pharmaceuticals during the fourth quarter worth about $79,000. Institutional investors and hedge funds own 97.00% 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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Analyst Recommendations for Rocket Pharmaceuticals (NASDAQ:RCKT)

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