Rocket Pharmaceuticals (NASDAQ:RCKT) Price Target Cut to $12.00 by Analysts at Chardan Capital

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) had its target price decreased by equities researchers at Chardan Capital from $17.00 to $12.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the biotechnology company's stock. Chardan Capital's target price indicates a potential upside of 273.83% from the stock's current price.

RCKT has been the subject of a number of other research reports. UBS Group reduced their target price on Rocket Pharmaceuticals from $12.00 to $5.00 and set a "buy" rating for the company in a research note on Tuesday, June 17th. Canaccord Genuity Group decreased their target price on shares of Rocket Pharmaceuticals from $34.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, June 3rd. Scotiabank decreased their target price on shares of Rocket Pharmaceuticals from $51.00 to $19.00 and set a "sector outperform" rating for the company in a research report on Wednesday, May 28th. Needham & Company LLC restated a "hold" rating on shares of Rocket Pharmaceuticals in a research report on Thursday. Finally, The Goldman Sachs Group downgraded shares of Rocket Pharmaceuticals from a "neutral" rating to a "sell" rating in a research report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $18.27.

Rocket Pharmaceuticals Stock Down 4.5%

Rocket Pharmaceuticals stock traded down $0.15 during midday trading on Thursday, hitting $3.21. 3,381,231 shares of the company's stock were exchanged, compared to its average volume of 3,450,217. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.19 and a current ratio of 9.19. Rocket Pharmaceuticals has a 12 month low of $2.19 and a 12 month high of $26.98. The firm has a 50-day moving average of $3.45 and a two-hundred day moving average of $6.83. The company has a market cap of $342.80 million, a PE ratio of -1.22 and a beta of 0.67.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. 111 Capital acquired a new position in Rocket Pharmaceuticals in the 2nd quarter valued at about $55,000. PFG Investments LLC lifted its position in Rocket Pharmaceuticals by 35.1% during the second quarter. PFG Investments LLC now owns 18,100 shares of the biotechnology company's stock worth $44,000 after buying an additional 4,700 shares during the period. Farther Finance Advisors LLC lifted its position in 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 worth $33,000 after buying an additional 13,369 shares during the period. Goldman Sachs Group Inc. lifted its position in Rocket Pharmaceuticals by 24.0% during the first quarter. Goldman Sachs Group Inc. now owns 995,690 shares of the biotechnology company's stock worth $6,641,000 after buying an additional 192,905 shares during the period. Finally, Rhumbline Advisers lifted its position in Rocket Pharmaceuticals by 8.4% during the first quarter. Rhumbline Advisers now owns 107,638 shares of the biotechnology company's stock worth $718,000 after buying an additional 8,299 shares during the period. Institutional investors and hedge funds own 98.39% of the company's stock.

About Rocket Pharmaceuticals

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.

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