Canaccord lowered the firm’s price target on Rocket Pharmaceuticals (RCKT) to $10 from $11 and keeps a Buy rating on the shares. The firm said the company’s announced pipeline reprioritization to focus on AAV cardio platform and corporate restructuring is the right move as it will reduce operating expenses and extend its cash runway into 2Q27.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RCKT:
- Rocket Pharmaceuticals downgraded to Neutral from Buy at BofA
- Hold Rating on Rocket Pharmaceuticals Amid Strategic Reorganization and Clinical Uncertainties
- Strategic Reorganization and Pipeline Focus Drive Buy Rating for Rocket Pharmaceuticals
- Rocket Pharmaceuticals Announces Strategic Reorganization
- Rocket Pharmaceuticals to reduce workforce by 30%, anticipates program delays