Evercore ISI Downgrades Rocket Pharmaceuticals (RCKT) Stock, Slashes PT

On May 30, Evercore ISI downgraded Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)’s stock from an “Outperform” rating to “In Line”, slashing its price objective to $5.00 from the prior target of $18.00, as reported by The Fly.

Scientific equipment in a lab setting, revealing the cutting edge of biotechnology research.

This decision comes after a recent unfortunate event in the company’s clinical program. The analysts have cited the death of a patient in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)’s Danon trial as a main reason for the downgrade.

Furthermore, the analyst decided to remove Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) from the SMID (Small to Mid-Cap) Core List, which suggests a shift in their investment outlook. Also, the analyst doesn’t think that Danon alone forms an investment case from here, even if it is approvable.

In March, the largest longitudinal natural history study of Danon disease to date was published in the Journal of the American Heart Association (JAHA). This disclosed critical insights into the distinct cardiac patterns of Danon disease patients, showcasing earlier, more severe heart issues in male patients. It also noted that many females develop progressive cardiomyopathy and heart failure in adolescence or early adulthood.

As of March 31, 2025, Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) had cash, cash equivalents, and investments of $318.2 million. Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) expects these resources to be sufficient to finance operations into Q4 2026.

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) operates as a late-stage biotechnology company, focusing on developing gene therapies for rare and devastating diseases.

While we acknowledge the potential of RCKT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk.  If you are looking for an AI stock that is more promising than RCKT and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now

Disclosure: None.