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

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have received an average rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $47.27.

A number of research firms have issued reports on RCKT. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Jefferies Financial Group began coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $29.00 target price for the company. Chardan Capital reiterated a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Leerink Partners reduced their target price on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th.

Insider Buying and Selling

In related news, CEO Gaurav Shah sold 11,091 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were 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 of the company’s stock, valued at approximately $9,230,630.40. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 14,386 shares of company stock valued at $185,345. 28.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of institutional investors have recently bought and sold shares of RCKT. Renaissance Technologies LLC acquired a new stake in Rocket Pharmaceuticals during the second quarter worth $2,144,000. Marshall Wace LLP acquired a new stake in Rocket Pharmaceuticals during the second quarter worth $422,000. Maverick Capital Ltd. boosted its stake in Rocket Pharmaceuticals by 1.0% during the second quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company’s stock worth $84,577,000 after buying an additional 40,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Rocket Pharmaceuticals by 23.5% during the second quarter. The Manufacturers Life Insurance Company now owns 139,613 shares of the biotechnology company’s stock worth $3,006,000 after buying an additional 26,556 shares in the last quarter. Finally, Novo Holdings A S boosted its stake in Rocket Pharmaceuticals by 4.8% during the second quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock worth $23,683,000 after buying an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

RCKT stock opened at $10.71 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The stock has a market cap of $976.32 million, a P/E ratio of -3.89 and a beta of 1.01. The firm has a 50 day simple moving average of $12.27 and a 200 day simple moving average of $16.67. Rocket Pharmaceuticals has a 52 week low of $10.07 and a 52 week high of $31.47.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.07. Research analysts anticipate that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

Rocket Pharmaceuticals Company Profile

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.