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

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twelve brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $43.00.

Several brokerages have recently issued reports on RCKT. Wedbush began coverage on shares of Rocket Pharmaceuticals in a research report on Monday, December 30th. They set an "outperform" rating and a $32.00 price objective for the company. The Goldman Sachs Group decreased their price target on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Jefferies Financial Group initiated coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, December 18th. They issued a "buy" rating and a $29.00 price objective on the stock. Scotiabank raised their target price on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a "sector outperform" rating in a research report on Monday, March 3rd. Finally, Chardan Capital cut their price target on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a "buy" rating on the stock in a research report on Friday, February 28th.

Insider Buying and Selling

In other Rocket Pharmaceuticals news, insider Kinnari Patel purchased 21,099 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The shares were acquired at an average cost of $4.70 per share, for a total transaction of $99,165.30. Following the completion of the purchase, the insider now owns 26,774 shares of the company's stock, valued at approximately $125,837.80. The trade was a 371.79 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aaron Ondrey sold 7,489 shares of Rocket Pharmaceuticals stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $5.29, for a total transaction of $39,616.81. Following the completion of the sale, the chief financial officer now owns 129,650 shares of the company's stock, valued at $685,848.50. This trade represents a 5.46 % decrease in their position. The disclosure for this sale can be found here. 28.50% of the stock is currently owned by insiders.

Remove Ads

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its position in shares of Rocket Pharmaceuticals by 24.5% during the 4th quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company's stock valued at $175,919,000 after acquiring an additional 2,753,033 shares during the period. Suvretta Capital Management LLC acquired a new position in Rocket Pharmaceuticals in the fourth quarter valued at about $32,267,000. Janus Henderson Group PLC lifted its position in Rocket Pharmaceuticals by 111.0% during the fourth quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company's stock worth $50,343,000 after purchasing an additional 2,106,699 shares during the period. Point72 Asset Management L.P. grew its stake in Rocket Pharmaceuticals by 3,163.9% during the fourth quarter. Point72 Asset Management L.P. now owns 1,569,823 shares of the biotechnology company's stock worth $19,733,000 after buying an additional 1,521,727 shares in the last quarter. Finally, Boxer Capital Management LLC acquired a new position in shares of Rocket Pharmaceuticals in the 4th quarter valued at approximately $18,428,000. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Trading Up 6.7 %

NASDAQ RCKT traded up $0.33 on Tuesday, reaching $5.27. The company had a trading volume of 5,069,673 shares, compared to its average volume of 1,230,549. The stock has a market cap of $561.94 million, a price-to-earnings ratio of -1.92 and a beta of 1.00. The stock's 50 day moving average is $8.38 and its 200-day moving average is $12.09. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals has a 52 week low of $4.55 and a 52 week high of $26.98.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.06. Equities analysts predict that Rocket Pharmaceuticals will post -2.83 earnings per share for the current 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.