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

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have earned an average rating of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $51.75.

Several analysts have recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Chardan Capital reaffirmed a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Canaccord Genuity Group decreased their price target on Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Finally, William Blair restated an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Monday, June 3rd.

Rocket Pharmaceuticals Trading Up 0.5 %

RCKT opened at $18.59 on Monday. Rocket Pharmaceuticals has a fifty-two week low of $15.13 and a fifty-two week high of $32.53. The firm has a market capitalization of $1.69 billion, a PE ratio of -6.48 and a beta of 1.13. The company has a debt-to-equity ratio of 0.04, a current ratio of 10.47 and a quick ratio of 10.47. The company’s 50-day moving average is $21.40 and its 200 day moving average is $23.87.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings data 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 period in the previous year, the firm earned ($0.82) earnings per share. As a group, research analysts predict that Rocket Pharmaceuticals will post -2.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, insider Mark Andrew White sold 3,026 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $20.39, for a total transaction of $61,700.14. Following the sale, the insider now owns 72,220 shares in the company, valued at $1,472,565.80. The transaction was disclosed in a filing with the SEC, which is available at this link. 31.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RCKT. Nisa Investment Advisors LLC increased its stake in shares of Rocket Pharmaceuticals by 31.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 764 shares in the last quarter. Old Well Partners LLC purchased a new stake in Rocket Pharmaceuticals in the 4th quarter worth $200,000. Capstone Investment Advisors LLC bought a new stake in Rocket Pharmaceuticals during the fourth quarter valued at about $217,000. Amalgamated Bank lifted its position in shares of Rocket Pharmaceuticals by 5.4% in the fourth quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock valued at $259,000 after acquiring an additional 440 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Rocket Pharmaceuticals in the fourth quarter worth about $332,000. Institutional investors own 98.39% of the company’s stock.

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.