HomeFinanceCanaccord Genuity Assigned "a Buy" Rating to Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) Stock

Canaccord Genuity Assigned “a Buy” Rating to Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) Stock

Canaccord Genuity raised the price target for the Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) stock to “a Buy”. The rating was released on November 08, 2022, according to finviz. The research report from Raymond James has initiated the stock to Outperform, with a price target set at $22. In their research brief published March 02, 2021, Stifel analysts initiated the Rocket Pharmaceuticals Inc. stock to Buy with a price target of $64.

The latest trade, Performances and Moving Averages give us the following Picture

The share price of Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) raised 0.66% to close Wednesday’s market session at $18.19, higher as compared to yesterday’s close. The stock price fluctuated between $18.0216 and $18.92 throughout the trading session with the volume trading being 449573 shares, which represented a significant variation when compared to the three months average volume of 1.00 million shares. The firm’s stock price fluctuated -6.53% within the last five trades and 6.31% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 83.55% in the last 6 months and -1.20% was subtracted to its value over the previous 3 months. RCKT stock is trading at a margin of 0.57%, 9.49% and 21.03% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.

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As of the close of trading, RCKT deals in the Healthcare domain. The stock is trading -31.33 percent below its 52-week high and 140.45 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is -20.6. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.

What Does Rocket Pharmaceuticals Inc.’s Profitability and Valuation Ratios Tell Us About the Stock?

The stock’s market cap achieved a total value of $1.38 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The firm managed a Price-to-Book ratio of 3.28, which equates the market value of a stock with its book value.

Is Insider Trading a Real Thing?

Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 3.83 percent of Rocket Pharmaceuticals Inc. shares are owned by insiders, and 93.30 percent are held by financial institutions. RTW INVESTMENTS, LP, the Director at Rocket Pharmaceuticals Inc. (RCKT) has bought 1,355,932 shares of firm on Oct 06 at a price of $14.75 against the total amount of $20.0 million. In another inside trade, Schwartz Jonathan David, of Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) sold 45,000 shares of the firm on Mar 30 for a total worth of $0.74 million at a price of $16.41. An inside trade which took place on Feb 07, CEO of Rocket Pharmaceuticals Inc. Shah Gaurav bought 22,000 shares of firm against total price of $0.38 million at the cost of $17.34 per share.

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