Rocket Pharmaceuticals initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Josh Schimmer initiated coverage of Rocket Pharmaceuticals with an Overweight rating and $65 price target. The stock is one of the firm’s “top picks”, offering multiple late-stage de-risked assets addressing high unmet needs and a thoughtful management team with a knack for identifying compelling gene therapy programs, the analyst tells investors in a research note. The firm adds that across the portfolio, Rocket Pharmaceuticals’ combined steady-state sales can surpass $1B per year, driving substantial upside for the stock vs. the current $1.5B market cap.