Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $52.13.

RCKT has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $53.00 price objective on shares of Rocket Pharmaceuticals in a report on Wednesday, April 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th. UBS Group lowered their price objective on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, March 1st. StockNews.com upgraded shares of Rocket Pharmaceuticals to a “sell” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th.

Insider Activity at Rocket Pharmaceuticals

In related news, insider Kinnari Patel sold 7,132 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $29.84, for a total value of $212,818.88. Following the completion of the transaction, the insider now directly owns 238,346 shares of the company’s stock, valued at $7,112,244.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Rocket Pharmaceuticals news, insider Kinnari Patel sold 7,132 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $29.84, for a total value of $212,818.88. Following the transaction, the insider now directly owns 238,346 shares in the company, valued at $7,112,244.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Militello sold 2,490 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $28.10, for a total transaction of $69,969.00. Following the completion of the transaction, the insider now owns 55,239 shares in the company, valued at $1,552,215.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 414,935 shares of company stock valued at $11,476,424. 31.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. increased its holdings in shares of Rocket Pharmaceuticals by 96.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,068 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 1,014 shares during the last quarter. Annandale Capital LLC acquired a new position in shares of Rocket Pharmaceuticals in the third quarter valued at $66,000. Allspring Global Investments Holdings LLC grew its stake in shares of Rocket Pharmaceuticals by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company’s stock valued at $105,000 after acquiring an additional 633 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Rocket Pharmaceuticals by 105.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,557 shares of the biotechnology company’s stock valued at $107,000 after acquiring an additional 1,829 shares in the last quarter. Finally, Old Well Partners LLC acquired a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at about $200,000. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $21.98 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.80 and a current ratio of 7.80. The company has a market capitalization of $1.99 billion, a P/E ratio of -7.48 and a beta of 1.07. The company’s 50 day moving average price is $26.54 and its two-hundred day moving average price is $25.43. Rocket Pharmaceuticals has a 52 week low of $14.89 and a 52 week high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Monday, February 26th. The biotechnology company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.14. During the same quarter last year, the company earned ($0.92) EPS. On average, analysts expect that Rocket Pharmaceuticals will post -2.94 earnings per share for the current fiscal year.

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.