William Blair analyst Raju Prasad maintained a Buy rating on Rocket Pharmaceuticals (RCKT) today. The company’s shares closed last Wednesday at $45.50.
According to TipRanks.com, Prasad is a 4-star analyst with an average return of 14.4% and a 52.4% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Alexion Pharmaceuticals, and Precision BioSciences.
Currently, the analyst consensus on Rocket Pharmaceuticals is a Strong Buy with an average price target of $71.50, representing a 62.7% upside. In a report issued on April 1, Leerink Partners also maintained a Buy rating on the stock with a $66.00 price target.
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Based on Rocket Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $60.92 million. In comparison, last year the company had a GAAP net loss of $19.86 million.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RCKT in relation to earlier this year.
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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.