Rocket Pharmaceuticals (NASDAQ:RCKT) Given "Hold" Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT - Free Report) in a report published on Thursday morning,Benzinga reports.

Several other analysts also recently weighed in on the company. Jefferies Financial Group reiterated a "hold" rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, May 28th. Morgan Stanley reiterated an "equal weight" rating and set a $7.00 price target on shares of Rocket Pharmaceuticals in a research note on Wednesday, May 28th. Bank of America dropped their price target on Rocket Pharmaceuticals from $32.00 to $9.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Chardan Capital dropped their price target on Rocket Pharmaceuticals from $46.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Finally, Wedbush reiterated an "outperform" rating and set a $32.00 price target on shares of Rocket Pharmaceuticals in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $17.87.

Rocket Pharmaceuticals Stock Down 2.2%

Shares of RCKT traded down $0.07 during trading hours on Thursday, hitting $3.14. The company had a trading volume of 2,526,813 shares, compared to its average volume of 3,482,499. The company has a market capitalization of $335.32 million, a PE ratio of -1.19 and a beta of 0.67. The company has a current ratio of 9.19, a quick ratio of 9.19 and a debt-to-equity ratio of 0.05. Rocket Pharmaceuticals has a one year low of $2.19 and a one year high of $26.98. The company's fifty day moving average price is $3.32 and its two-hundred day moving average price is $6.71.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.02. During the same period in the previous year, the company earned ($0.66) EPS. As a group, equities analysts forecast that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Covestor Ltd raised its holdings in shares of Rocket Pharmaceuticals by 33,166.7% during the fourth quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 1,990 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Rocket Pharmaceuticals by 7,818.1% during the second quarter. Farther Finance Advisors LLC now owns 13,540 shares of the biotechnology company's stock valued at $33,000 after acquiring an additional 13,369 shares during the last quarter. PFG Investments LLC raised its holdings in shares of Rocket Pharmaceuticals by 35.1% during the second quarter. PFG Investments LLC now owns 18,100 shares of the biotechnology company's stock valued at $44,000 after acquiring an additional 4,700 shares during the last quarter. 111 Capital acquired a new position in shares of Rocket Pharmaceuticals during the second quarter valued at approximately $55,000. Finally, Signaturefd LLC grew its position in shares of Rocket Pharmaceuticals by 83.6% in the first quarter. Signaturefd LLC now owns 9,024 shares of the biotechnology company's stock valued at $60,000 after purchasing an additional 4,108 shares in the last quarter. Institutional investors and hedge funds own 98.39% of the company's stock.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.