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Rocket Pharmaceuticals (RCKT) Receives a Buy from SVB Securities

In a report issued on July 18, Mani Foroohar from SVB Securities maintained a Buy rating on Rocket Pharmaceuticals (RCKTResearch Report), with a price target of $64.00. The company’s shares closed last Tuesday at $15.13.

According to TipRanks.com, Foroohar has 0 stars on 0-5 stars ranking scale with an average return of -18.1% and a 38.3% success rate. Foroohar covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, 4D Molecular Therapeutics, and Recursion Pharmaceuticals.

Currently, the analyst consensus on Rocket Pharmaceuticals is a Strong Buy with an average price target of $53.25, which is a 215.5% upside from current levels. In a report issued on July 8, Raymond James also initiated coverage with a Buy rating on the stock with a $22.00 price target.

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The company has a one-year high of $45.61 and a one-year low of $7.57. Currently, Rocket Pharmaceuticals has an average volume of 877K.

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Rocket Pharmaceuticals, Inc. is a clinical-stage biotechnology company, which engages in the development of first-in-class gene therapy treatment options for rare and devastating pediatric diseases. Its multi-platform development approach applies the lentiviral vector (LVV) and adeno-associated viral vector (AAV) gene therapy platforms. The firm’s clinical program is a LVV-based gene therapy for the treatment of Fanconi Anemia (FA), a difficult to treat genetic disease that leads to bone marrow failure and potentially cancer. The company was founded in 1999 and is headquartered in New York, NY.

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