Needham Reiterates Rocket Pharmaceuticals (RCKT) Buy Recommendation
Fintel reports that on April 19, 2023, Needham reiterated coverage of Rocket Pharmaceuticals (NASDAQ:RCKT) with a Buy recommendation.
Analyst Price Forecast Suggests 165.75% Upside
As of April 6, 2023, the average one-year price target for Rocket Pharmaceuticals is $51.16. The forecasts range from a low of $33.33 to a high of $78.75. The average price target represents an increase of 165.75% from its latest reported closing price of $19.25.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Rocket Pharmaceuticals is $22MM. The projected annual non-GAAP EPS is -$3.01.
What are Other Shareholders Doing?
BIB - ProShares Ultra Nasdaq Biotechnology holds 6K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 6K shares, representing an increase of 9.35%. The firm increased its portfolio allocation in RCKT by 10.06% over the last quarter.
Nuveen Asset Management holds 504K shares representing 0.63% ownership of the company. In it's prior filing, the firm reported owning 232K shares, representing an increase of 53.87%. The firm increased its portfolio allocation in RCKT by 154.30% over the last quarter.
Great West Life Assurance holds 3K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 2K shares, representing an increase of 14.62%. The firm decreased its portfolio allocation in RCKT by 99.87% over the last quarter.
USSCX - Science & Technology Fund Shares holds 139K shares representing 0.18% ownership of the company.
DFA INVESTMENT DIMENSIONS GROUP INC - U.S. Social Core Equity 2 Portfolio Shares holds 5K shares representing 0.01% ownership of the company. No change in the last quarter.
What is the Fund Sentiment?
There are 386 funds or institutions reporting positions in Rocket Pharmaceuticals. This is an increase of 18 owner(s) or 4.89% in the last quarter. Average portfolio weight of all funds dedicated to RCKT is 0.21%, an increase of 20.43%. Total shares owned by institutions increased in the last three months by 10.34% to 80,599K shares. 
The put/call ratio of RCKT is 0.19, indicating a bullish outlook.
Rocket Pharmaceuticals Background Information
(This description is provided by the company.)
Rocket Pharmaceuticals, Inc. is advancing an integrated and sustainable pipeline of genetic therapies that correct the root cause of complex and rare childhood disorders. The Company's platform-agnostic approach enables it to design the best therapy for each indication, creating potentially transformative options for patients afflicted with rare genetic diseases. Rocket's clinical programs using lentiviral vector (LVV)-based gene therapy are for the treatment of Fanconi Anemia (FA), a difficult to treat genetic disease that leads to bone marrow failure and potentially cancer, Leukocyte Adhesion Deficiency-I (LAD-I), a severe pediatric genetic disorder that causes recurrent and life-threatening infections which are frequently fatal, Pyruvate Kinase Deficiency (PKD) a rare, monogenic red blood cell disorder resulting in increased red cell destruction and mild to life-threatening anemia, and Infantile Malignant Osteopetrosis (IMO), a bone marrow-derived disorder. Rocket's first clinical program using adeno-associated virus (AAV)-based gene therapy is for Danon disease, a devastating, pediatric heart failure condition.
See all Rocket Pharmaceuticals regulatory filings.
This story originally appeared on Fintel.