Analysts Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Price Target at $47.27

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) have received a consensus rating of "Moderate Buy" from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $47.27.

RCKT has been the topic of several recent analyst reports. Leerink Partners cut their target price on Rocket Pharmaceuticals from $46.00 to $44.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 19th. Cantor Fitzgerald reissued an "overweight" rating and issued a $65.00 target price 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 on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a $39.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Finally, Chardan Capital reissued a "buy" rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah sold 11,091 shares of Rocket Pharmaceuticals stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 707,328 shares in the company, valued at approximately $9,230,630.40. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 13,490 shares of company stock valued at $176,045. 28.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several large investors have recently made changes to their positions in the business. KBC Group NV raised its holdings in Rocket Pharmaceuticals by 159.6% in the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company's stock worth $69,000 after acquiring an additional 3,366 shares during the last quarter. SG Americas Securities LLC raised its holdings in Rocket Pharmaceuticals by 796.2% in the 4th quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company's stock worth $690,000 after acquiring an additional 48,793 shares during the last quarter. Mirador Capital Partners LP raised its holdings in Rocket Pharmaceuticals by 403.9% in the 4th quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company's stock worth $1,063,000 after acquiring an additional 67,755 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Rocket Pharmaceuticals by 7.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 237,499 shares of the biotechnology company's stock worth $2,985,000 after acquiring an additional 16,453 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Rocket Pharmaceuticals by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company's stock worth $29,888,000 after acquiring an additional 14,256 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Trading Up 5.7 %

Shares of NASDAQ:RCKT traded up $0.60 on Thursday, reaching $11.08. 1,281,089 shares of the company traded hands, compared to its average volume of 1,645,042. The business's 50-day simple moving average is $12.39 and its 200 day simple moving average is $16.88. Rocket Pharmaceuticals has a 52 week low of $10.07 and a 52 week high of $31.47. The stock has a market capitalization of $1.01 billion, a P/E ratio of -4.03 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.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.78) by $0.07. As a group, equities analysts anticipate that Rocket Pharmaceuticals will post -2.83 EPS 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.