Rocket Pharmaceuticals (NASDAQ:RCKT) Rating Reiterated by Cantor Fitzgerald

Rocket Pharmaceuticals (NASDAQ:RCKT)‘s stock had its “overweight” rating reissued by investment analysts at Cantor Fitzgerald in a research report issued on Tuesday, Benzinga reports. They currently have a $65.00 price objective on the biotechnology company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 243.92% from the stock’s current price.

RCKT has been the topic of a number of other research reports. Canaccord Genuity Group reduced their target price on Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Needham & Company LLC restated a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday. William Blair reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Monday, June 3rd. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

Rocket Pharmaceuticals Stock Down 6.1 %

Shares of NASDAQ RCKT opened at $18.90 on Tuesday. The firm has a market cap of $1.72 billion, a P/E ratio of -6.59 and a beta of 1.13. The company has a debt-to-equity ratio of 0.04, a quick ratio of 10.47 and a current ratio of 10.47. Rocket Pharmaceuticals has a 1 year low of $14.89 and a 1 year high of $32.53. The firm’s 50 day moving average price is $22.21 and its 200 day moving average price is $24.71.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, August 5th. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.02). During the same quarter in the previous year, the business posted ($0.82) earnings per share. As a group, sell-side analysts anticipate that Rocket Pharmaceuticals will post -2.96 earnings per share for the current year.

Insider Activity at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider John Militello sold 1,079 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $23.35, for a total transaction of $25,194.65. Following the sale, the insider now directly owns 53,327 shares of the company’s stock, valued at $1,245,185.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John Militello sold 1,079 shares of Rocket Pharmaceuticals stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $23.35, for a total value of $25,194.65. Following the sale, the insider now directly owns 53,327 shares in the company, valued at approximately $1,245,185.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gaurav Shah sold 9,790 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $23.35, for a total transaction of $228,596.50. Following the completion of the sale, the chief executive officer now directly owns 728,069 shares of the company’s stock, valued at approximately $17,000,411.15. The disclosure for this sale can be found here. Insiders sold a total of 15,755 shares of company stock valued at $358,654 over the last three months. 31.10% of the stock is owned by insiders.

Institutional Trading of Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in Rocket Pharmaceuticals by 174.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock valued at $70,170,000 after acquiring an additional 1,656,111 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Rocket Pharmaceuticals by 18.3% during the fourth quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock valued at $163,264,000 after purchasing an additional 843,552 shares during the last quarter. Franklin Resources Inc. increased its stake in Rocket Pharmaceuticals by 60.8% in the 4th quarter. Franklin Resources Inc. now owns 1,072,910 shares of the biotechnology company’s stock worth $32,155,000 after purchasing an additional 405,855 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Rocket Pharmaceuticals by 11.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock valued at $79,290,000 after buying an additional 314,086 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Rocket Pharmaceuticals in the fourth quarter worth approximately $7,293,000. Institutional investors own 98.39% of the company’s stock.

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.