Stock of the Day

October 14, 2022

Rocket Pharmaceuticals (RCKT)

$2.22
-$0.15 (-6.1%)
Market Cap: $243.16M

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc., together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia. The company also has a clinical stage in vivo adeno-associated virus program for Danon disease, a multi-organ lysosomal-associated disorder leading to early death due to heart failure; Plakophilin-2 Arrhythmogenic Cardiomyopathy, an inheritable cardiac disorder; and BAG3 Dilated Cardiomyopathy. It has license agreements with Centro de Investigaciones Energéticas, Medioambientales y Tecnológicas, Centro de Investigacion Biomedica En Red, and Fundacion Instituto de investigacion Sanitaria Fundacion Jimenez Diaz; UCL Business PLC; The Regents of the University of California; and REGENXBIO, Inc. Rocket Pharmaceuticals, Inc. was founded in 1999 and is headquartered in Cranbury, New Jersey.

Today's Trend

Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT) moved higher as investors responded to new financing and encouraging updates on its Danon disease gene-therapy program. The news provides additional funding for development, although analyst views remain mixed.

  • Rocket secured access to up to $150 million through a Hercules Capital credit facility. The capital strengthens its balance sheet and is intended to support the pivotal Phase 2 trial of RP-A501 for Danon disease and the broader cardiovascular pipeline. Rocket Pharmaceuticals secures access to $150 million credit facility
  • The company highlighted an FDA-aligned development plan for the RP-A501 pivotal Phase 2 study and reported sustained biological activity in longer-term Phase 1 follow-up. The update may improve confidence that the program is advancing toward a potentially registrational data set. Rocket Pharmaceuticals RP-A501 clinical update
  • Chardan Capital reaffirmed its “buy” rating and set an $11 price target, while Wedbush maintained its “outperform” rating. These endorsements signal that some analysts see substantial upside if Rocket’s clinical programs continue to progress. Rocket Pharmaceuticals analyst ratings
  • Leerink Partners lowered its price target from $7 to $4 and changed its rating to “market perform.” Although the new target still implies considerable upside from the recent trading level, the reduction reflects a more cautious assessment of Rocket’s valuation or execution risk.
  • Investor-call transcripts focused on the RP-A501 pivotal trial and preliminary clinical data, reinforcing that upcoming trial execution and efficacy results remain the primary catalysts for RCKT. Rocket Pharmaceuticals Danon disease program transcript
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