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Should You Buy Stock (NASDAQ: RCKT)?  • Benzinga

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Should You Buy Stock (NASDAQ: RCKT)? • Benzinga

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Symbol Company % Change Price To invest

RCKT

Rocket pharmaceuticals
$ 29.63 Buy actions

Rocket Pharmaceuticals Inc. (NASDAQ: RCKT) is an emerging clinical-stage biotechnology company focused on developing world-class gene therapy treatment options for rare and under-treated diseases. Rocket’s cross-platform development approach applies the well-established lentiviral virus (LVV). RCKT’s share price has been falling for the past 3 months, but positive clinical trials and a broader rally in mid-cap biotech stocks could boost its share price in the coming months. If this is not reason enough to stay on your watch list, you have received positive reviews from most analysts and your gene therapy treatment could lead to new therapies in the pharmaceutical sector. Although a sudden change in regulation could offset your share price, the risks of a complete overhaul of healthcare regulation are low.

RCKT share price

Symbol Company % Change Price To invest

RCKT

Rocket pharmaceuticals
$ 29.63 Buy actions

Rocket gained 1.45% on Friday, October 22, 2021, going from $ 28.97 to $ 29.39. During the day, the stock fluctuated 4.50% from a daily low of $ 28.23 to a daily high of $ 29.50. The price has been going up and down during this period and showed a 1.77% gain for the last 2 weeks. Volume fell that day by 81,000 shares and, in total, 186,000 shares were bought and sold for approximately $ 5.48 million. You should be aware that falling volume at higher prices causes divergence and can be an early warning of possible changes in the coming days.

Stock of rockets versus competitors

As a small-cap biotech company, Rocket is a strong competitor against its mid-cap peers, such as CRISPR Therapeutics AG (NASDAQ: CRSP) with a market capitalization of more than $ 7 billion and a possible launch of its first product by 2024. However, Rocket has a market capitalization of $ 1.86 billion, while competitors such as Sarepta Therapeutics (NASDAQ: SRPT) have a market capitalization of $ 6.85 billion, despite posting negative earnings per share of 8.02%. In the meantime, Teladoc Health Inc. (NYSE: TDOC) has a market capitalization of $ 22.077 billion and looks good, according to Cathie Woods, chief executive officer of Ark Invest. Some competitors with a higher market capitalization of $ 7.07 billion have positive earnings per share in the 5.9% range. While these companies have higher market capitalization and higher earnings per share in some cases, Rocket’s share price could rebound due to positive results from clinical trials.

RCKT share forecast

Rocket Pharmaceuticals has seen its share price drop about 41% so far this year. Rocket is developing gene therapies to treat a number of conditions, including Danon disease, an often fatal genetic disorder that causes heart failure. Its main program is a lentiviral-based gene therapy to treat Fanconi anemia, a rare genetic bone marrow disorder. It has recovered somewhat since mid-August after the Food and Drug Administration lifted a clinical hold it had placed on the company’s Danon disease trial in May. In a report issued on August 5, Yaron Werber of Cowen Inc. (NASDAQ: COWN) maintained a Buy rating on Rocket Pharmaceuticals, and its shares closed last Friday at $ 26.46, approaching a 52-week high of $ 27.73. Werber expects the company’s Fanconi anemia gene therapy to enter the market next year and finds that the Fanconi anemia program alone could generate $ 1.9 billion in cumulative revenue. He expects Rocket to create long-term shareholder value as its gene therapy programs advance through clinical development before entering the market late next year. Based on this, Rocket Pharmaceuticals may present a good buying opportunity for investors in the long term, although bearish episodes could occur before their therapies hit the market.

According to TipRanks.com, Werber is a 5-star analyst with an average performance of 23.1% and a success rate of 71.0%. Werber covers the healthcare sector, focusing on actions such as Ionis Pharmaceuticals Inc. (NASDAQ: IONES), Akcea Therapeutics Inc. (NASDAQ: AKCA) and Acceleron Pharma Inc. (NASDAQ: XLRN). Rocket Pharmaceuticals has a strong Buy analyst consensus, with a consensus price target of $ 36.33, up 37.1%.

RCKT’s average price target is $ 69.70, which is a 115% gain over the recent price of $ 29 to $ 30. The stock has a market value of $ 2.1 billion. Of the 12 analysts tracked by FactSet who cover the stock, all rate it as Buy. Rocket has been falling for the past 3 months, but its share price could rebound due to positive news about successful clinical trials and the ultimate creation of marketable pharmaceuticals.

RCKT Stock News

On October 20, Rocket Pharmaceuticals released interim data from its immunodeficiency gene therapy trial. Rocket Pharmaceuticals provided updates on interim data, illustrating preliminary efficiency in all 7 patients. The company will release its earnings on Wednesday, November 3, 2021, and analysts at Zacks Investment Research predict earnings per share at -0.58 from -0.53 last year. You can add Rocket Pharmaceuticals to your watch list here.

How to buy Rocket Pharmaceuticals Inc. (NASDAQ: RCKT) Stocks

If you already have a broker, it will likely include RCKT shares. If not, follow the steps below.

Step 1: choose a broker.

If you are interested in opening a new brokerage account, take a look at Benzinga’s list of favorite brokers here.

Step 2: decide how many shares you want to share.

Once you have established your trading account with a broker with RCKT shares, you will need to find out how many to buy. Consider your tolerance for risk and exposure to other investments before deciding how many stocks to buy. Avoid spending too much capital on a single topic.

Step 3: choose your type of order.

Buying stocks is not as simple as pressing a button or tapping a screen. You will need to decide how to order your shares, and that is generally done through 2 options: a market order or a limit order. A market order will immediately execute your trade at the best available market price. A limit order allows you to set a price that triggers the order when it is reached. Limit orders allow you to trade at ideal prices without having to keep an eye on stocks.

Step 4: Run your trade.

Once you have decided on a trading strategy, you will need to find an ideal entry point to start your position. This is where technical analysis comes in handy. By using concepts like support and resistance, you can execute your trade with precision and maximize your returns. Sure, getting stocks at $ 26.50 instead of $ 26.75 may seem like a minimal profit, but when you buy in volume, those quarters can add up.

Best Online Stock Brokers for RCKT Stocks

For tech savvy investors or traders, the table below illustrates a list of brokers where you can buy RCKT. This list provides an overview of the key features of each brokerage platform to help you make informed decisions.

RCKT in Benzinga Pro

RCKT has been trending down for the past 3 months. Although it has reversed past losses, technical indicators suggest that its share price may fall further before recovering. A new bottom appears to be settling between $ 27.40 and $ 27.70, but it does not appear that a bullish pattern is forming yet. Your knee-jerk reaction to positive test results from clinical data could drive your stock price long-term from sales of vital therapies.

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Screenshot taken from Benzinga Pro on 10-27-2021

The Harami crossover shows that the stock is currently in a bearish pattern, and a major break above $ 28.93 could fuel positive momentum and disrupt the current downtrend. The 50-day moving average still suggests that the stock will remain locked in negative territory in the short term. Positive news on clinical trials and a positive earnings report could boost investor sentiment and relaunch the action.

Rocket Pharmaceuticals is poised to rally next year

Stay tuned for more news, updates, and analysis on Rocket Pharmaceuticals. Its positive analyst rating and positive clinical study results suggest that its share price could perform well next year.

Frequent questions

1

What is gene therapy?

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Henri Kouam

1

Gene therapy is a technique that modifies a person’s genes to treat or cure a disease. Gene therapies can work through a number of mechanisms, including the replacement of a disease-causing gene with a healthy copy of the gene.

Reply link

answered

Benzinga

Should I buy Rocket Pharmaceuticals?

1

Should I buy Rocket Pharmaceuticals?

order

Henri Kouam

1

RCKT could outperform in the coming months and has a strong buy rating from analysts at the end of October 2021. It has shown positive results in its clinical trials and its share price could rebound after a successful launch.

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answered

Benzinga

What are the main risks for Rocket Pharmaceuticals?

1

What are the main risks for Rocket Pharmaceuticals?

order

Henri Kouam

1

RCKT may be affected by US regulation that forces it to reduce the prices of its drugs. However, such a change would require support from both sides of the political spectrum, which is unlikely to happen yet. A relaxation of patent laws could hold back future innovations, but intellectual property rights form the foundation of the American economy, so the suspensions of patent laws during the pandemic were an anomaly.

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Benzinga

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Should You Buy Stock (NASDAQ: RCKT)? • Benzinga

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