Cowen Reiterates “Buy” Rating for Rocket Pharmaceuticals (NASDAQ:RCKT)

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

A number of other equities research analysts have also weighed in on RCKT. William Blair reaffirmed a “buy” rating on shares of Rocket Pharmaceuticals in a research note on Tuesday, September 10th. Zacks Investment Research lowered shares of Rocket Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, October 26th. Oppenheimer cut 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 note on Tuesday, August 13th. Piper Jaffray Companies started coverage on shares of Rocket Pharmaceuticals in a research note on Thursday, September 26th. They set an “overweight” rating on the stock. Finally, ValuEngine lowered shares of Rocket Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $28.33.

NASDAQ:RCKT traded down $0.13 during trading hours on Friday, hitting $14.55. The stock had a trading volume of 361,300 shares, compared to its average volume of 179,514. The firm has a market capitalization of $739.77 million, a price-to-earnings ratio of -7.70 and a beta of 2.74. The company has a 50 day simple moving average of $13.29 and a two-hundred day simple moving average of $14.11. Rocket Pharmaceuticals has a one year low of $10.75 and a one year high of $20.79. The company has a debt-to-equity ratio of 0.20, a current ratio of 11.07 and a quick ratio of 17.48.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.11. Equities research analysts anticipate that Rocket Pharmaceuticals will post -1.68 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Perceptive Advisors LLC boosted its stake in Rocket Pharmaceuticals by 331.6% during the second quarter. Perceptive Advisors LLC now owns 1,977,412 shares of the biotechnology company’s stock worth $29,661,000 after acquiring an additional 1,519,239 shares in the last quarter. Vivo Capital LLC bought a new position in shares of Rocket Pharmaceuticals in the second quarter worth approximately $11,801,000. Westfield Capital Management Co. LP bought a new position in shares of Rocket Pharmaceuticals in the second quarter worth approximately $8,462,000. BlackRock Inc. lifted its stake in shares of Rocket Pharmaceuticals by 21.1% in the second quarter. BlackRock Inc. now owns 2,563,600 shares of the biotechnology company’s stock worth $38,455,000 after buying an additional 447,257 shares in the last quarter. Finally, Cormorant Asset Management LP lifted its stake in shares of Rocket Pharmaceuticals by 22.0% in the second quarter. Cormorant Asset Management LP now owns 2,074,595 shares of the biotechnology company’s stock worth $31,119,000 after buying an additional 374,595 shares in the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: What is diluted earnings per share (Diluted EPS)?

Analyst Recommendations for Rocket Pharmaceuticals (NASDAQ:RCKT)

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