Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $48.80.

RCKT has been the subject of several recent analyst reports. 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. Needham & Company LLC reaffirmed a "buy" rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Scotiabank initiated coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a "sector outperform" rating and a $50.00 target price for the company. Chardan Capital reaffirmed a "buy" rating and set a $62.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $39.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th.

Rocket Pharmaceuticals Trading Down 2.2 %

Shares of NASDAQ:RCKT traded down $0.27 during mid-day trading on Friday, reaching $11.75. The stock had a trading volume of 1,819,780 shares, compared to its average volume of 1,225,009. The firm has a 50 day simple moving average of $14.50 and a two-hundred day simple moving average of $18.18. Rocket Pharmaceuticals has a twelve month low of $11.15 and a twelve month high of $32.53. The firm has a market cap of $1.07 billion, a PE ratio of -4.27 and a beta of 1.01. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.

Insider Transactions at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 11,091 shares of the company's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $13.05, for a total transaction of $144,737.55. Following the sale, the chief executive officer now owns 707,328 shares in the company, valued at approximately $9,230,630.40. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 13,490 shares of company stock valued at $176,045 over the last 90 days. 28.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its stake in shares of Rocket Pharmaceuticals by 10.4% in the second quarter. Bank of New York Mellon Corp now owns 239,877 shares of the biotechnology company's stock valued at $5,165,000 after buying an additional 22,521 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Rocket Pharmaceuticals by 30.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,092 shares of the biotechnology company's stock worth $368,000 after purchasing an additional 3,995 shares during the last quarter. Privium Fund Management B.V. raised its holdings in shares of Rocket Pharmaceuticals by 6.8% in the 2nd quarter. Privium Fund Management B.V. now owns 250,980 shares of the biotechnology company's stock valued at $4,964,000 after purchasing an additional 15,930 shares during the period. Rhumbline Advisers lifted its stake in Rocket Pharmaceuticals by 5.2% in the 2nd quarter. Rhumbline Advisers now owns 101,134 shares of the biotechnology company's stock valued at $2,177,000 after purchasing an additional 4,958 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in Rocket Pharmaceuticals by 14.8% during the second quarter. TD Asset Management Inc now owns 178,164 shares of the biotechnology company's stock worth $3,836,000 after purchasing an additional 23,000 shares during the period. Institutional investors and hedge funds 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.