Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Average Recommendation of “Moderate Buy” by Brokerages

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has received a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $47.27.

Several equities analysts recently weighed in on the company. Jefferies Financial Group started coverage on Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price target for the company. Scotiabank initiated coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Canaccord Genuity Group reissued a “buy” rating and issued a $39.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th.

Rocket Pharmaceuticals Trading Down 1.6 %

Shares of NASDAQ:RCKT opened at $10.41 on Thursday. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals has a 12-month low of $10.07 and a 12-month high of $31.47. The business has a 50 day moving average of $12.16 and a two-hundred day moving average of $16.54. The company has a market capitalization of $948.94 million, a PE ratio of -3.79 and a beta of 1.01.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.07. As a group, analysts forecast that Rocket Pharmaceuticals will post -2.83 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Gaurav Shah sold 11,091 shares of Rocket Pharmaceuticals stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $13.05, for a total transaction of $144,737.55. Following the transaction, the chief executive officer now owns 707,328 shares in the company, valued at $9,230,630.40. The trade was a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 14,386 shares of company stock valued at $185,345 in the last ninety days. 28.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Rocket Pharmaceuticals by 22.8% during the 3rd quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock worth $207,642,000 after buying an additional 2,086,424 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in Rocket Pharmaceuticals by 3.8% during the third quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock worth $83,001,000 after acquiring an additional 165,911 shares during the last quarter. Maverick Capital Ltd. raised its position in Rocket Pharmaceuticals by 4.8% in the third quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock valued at $76,072,000 after purchasing an additional 190,360 shares during the period. State Street Corp lifted its stake in shares of Rocket Pharmaceuticals by 11.6% in the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after purchasing an additional 322,156 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Rocket Pharmaceuticals by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock worth $29,888,000 after purchasing an additional 14,256 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.

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.