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

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have received an average rating of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $52.13.

Several analysts recently weighed in on RCKT shares. StockNews.com raised Rocket Pharmaceuticals to a “sell” rating in a report on Friday, February 9th. The Goldman Sachs Group assumed coverage on Rocket Pharmaceuticals in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 price objective for the company. UBS Group reduced their price objective on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $53.00 target price on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 10th.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, General Counsel Martin Wilson sold 3,576 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $29.84, for a total transaction of $106,707.84. Following the sale, the general counsel now directly owns 6,136 shares of the company’s stock, valued at approximately $183,098.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Gaurav Shah sold 20,272 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 $604,916.48. Following the transaction, the chief executive officer now directly owns 554,762 shares of the company’s stock, valued at $16,554,098.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Martin Wilson sold 3,576 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $29.84, for a total transaction of $106,707.84. Following the transaction, the general counsel now directly owns 6,136 shares in the company, valued at $183,098.24. The disclosure for this sale can be found here. Insiders have sold a total of 414,102 shares of company stock valued at $11,457,374 in the last three months. 31.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several hedge funds have recently bought and sold shares of RCKT. China Universal Asset Management Co. Ltd. boosted its holdings in Rocket Pharmaceuticals by 96.2% during 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 acquiring an additional 1,014 shares during the period. Annandale Capital LLC bought a new stake in shares of Rocket Pharmaceuticals in the third quarter valued at about $66,000. Tower Research Capital LLC TRC lifted 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 buying an additional 1,829 shares during the period. Allspring Global Investments Holdings LLC lifted 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 buying an additional 633 shares during the period. Finally, Old Well Partners LLC bought a new stake in shares of Rocket Pharmaceuticals in the fourth quarter valued at about $200,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Trading Up 4.7 %

Shares of RCKT opened at $23.87 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.80 and a quick ratio of 7.80. Rocket Pharmaceuticals has a 12 month low of $14.89 and a 12 month high of $32.53. The stock’s 50-day moving average is $27.08 and its two-hundred day moving average is $25.41. The stock has a market cap of $2.16 billion, a PE ratio of -8.12 and a beta of 1.07.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly 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 period last year, the firm posted ($0.92) earnings per share. Equities analysts forecast 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.