ValuEngine Lowers Rocket Pharmaceuticals (RCKT) to Hold

ValuEngine cut shares of Rocket Pharmaceuticals (NASDAQ:RCKT) from a buy rating to a hold rating in a research note published on Monday, ValuEngine reports.

A number of other brokerages have also recently commented on RCKT. William Blair reaffirmed a buy rating on shares of Rocket Pharmaceuticals in a report on Tuesday, April 9th. Cowen reaffirmed a buy rating on shares of Rocket Pharmaceuticals in a report on Wednesday, May 8th. Zacks Investment Research raised shares of Rocket Pharmaceuticals from a sell rating to a buy rating and set a $21.00 target price for the company in a report on Thursday, May 9th. Robert W. Baird assumed coverage on shares of Rocket Pharmaceuticals in a report on Monday, April 22nd. They set an outperform rating for the company. Finally, Oppenheimer set a $39.00 target price on shares of Rocket Pharmaceuticals and gave the company a buy rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $29.33.

RCKT opened at $17.30 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 9.70 and a quick ratio of 9.70. Rocket Pharmaceuticals has a twelve month low of $10.75 and a twelve month high of $25.96. The company has a market cap of $865.98 million, a PE ratio of -9.15 and a beta of 3.06.



Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.20. As a group, research analysts predict that Rocket Pharmaceuticals will post -2.38 EPS for the current fiscal year.

In related news, insider Gaurav Shah sold 74,900 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total transaction of $1,286,033.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rtw Investments, Lp bought 550,005 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were bought at an average price of $17.50 per share, with a total value of $9,625,087.50. The disclosure for this purchase can be found here. 47.67% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the stock. Strs Ohio boosted its position in shares of Rocket Pharmaceuticals by 12.5% during the first quarter. Strs Ohio now owns 6,300 shares of the biotechnology company’s stock worth $110,000 after acquiring an additional 700 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Rocket Pharmaceuticals by 23.3% during the fourth quarter. Legal & General Group Plc now owns 3,904 shares of the biotechnology company’s stock worth $58,000 after acquiring an additional 739 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Rocket Pharmaceuticals by 8.0% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,013 shares of the biotechnology company’s stock worth $193,000 after acquiring an additional 814 shares during the last quarter. Group One Trading L.P. boosted its position in shares of Rocket Pharmaceuticals by 103.6% during the first quarter. Group One Trading L.P. now owns 1,999 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 1,017 shares during the last quarter. Finally, American International Group Inc. boosted its position in shares of Rocket Pharmaceuticals by 10.1% during the first quarter. American International Group Inc. now owns 15,131 shares of the biotechnology company’s stock worth $265,000 after acquiring an additional 1,391 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company that focuses on developing gene therapies for rare and devastating pediatric diseases. It has clinical-stage lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; and leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction It also has additional pre-clinical stage LVV programs include pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia; and infantile malignant osteopetrosis, a genetic disorder characterized by increased bone density and bone mass secondary to impaired bone resorption.

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Analyst Recommendations for Rocket Pharmaceuticals (NASDAQ:RCKT)

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