Bank of America started coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research note released on Friday, MarketBeat.com reports. The brokerage issued a buy rating and a $27.00 target price on the biotechnology company’s stock.

Other analysts have also recently issued reports about the stock. Oppenheimer set a $39.00 price target on shares of Rocket Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, March 5th. Zacks Investment Research raised shares of Rocket Pharmaceuticals from a hold rating to a buy rating and set a $16.00 price target for the company in a research report on Wednesday, January 30th. William Blair reiterated a buy rating on shares of Rocket Pharmaceuticals in a report on Tuesday, November 27th. Cowen assumed coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, February 26th. They issued an outperform rating on the stock. Finally, CIBC assumed coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, February 5th. They issued an outperform rating and a $39.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Rocket Pharmaceuticals has a consensus rating of Buy and an average price target of $28.83.

Shares of Rocket Pharmaceuticals stock opened at $15.92 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 13.60 and a quick ratio of 12.52. Rocket Pharmaceuticals has a twelve month low of $10.75 and a twelve month high of $25.96. The firm has a market cap of $655.11 million, a P/E ratio of -8.42 and a beta of 3.13.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.21). As a group, sell-side analysts expect that Rocket Pharmaceuticals will post -2.86 earnings per share for the current year.

In other Rocket Pharmaceuticals news, insider Gaurav Shah sold 74,900 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total value of $1,286,033.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 47.67% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Legal & General Group Plc raised its stake in shares of Rocket Pharmaceuticals by 23.3% in the 4th quarter. Legal & General Group Plc now owns 3,904 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 739 shares in the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of Rocket Pharmaceuticals in the 4th quarter valued at about $79,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Rocket Pharmaceuticals by 356.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,403 shares of the biotechnology company’s stock valued at $110,000 after purchasing an additional 5,782 shares in the last quarter. Requisite Energy Fund I LP acquired a new stake in shares of Rocket Pharmaceuticals in the 4th quarter valued at about $148,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Rocket Pharmaceuticals by 54.5% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,199 shares of the biotechnology company’s stock valued at $153,000 after purchasing an additional 3,598 shares in the last quarter. Hedge funds and other institutional investors own 97.07% 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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