Rocket Pharmaceuticals (NASDAQ:RCKT) Rating Reiterated by Chardan Capital

Rocket Pharmaceuticals (NASDAQ:RCKT)‘s stock had its “buy” rating reissued by investment analysts at Chardan Capital in a research report issued on Friday, Benzinga reports. They currently have a $62.00 price target on the biotechnology company’s stock. Chardan Capital’s price target points to a potential upside of 187.97% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. William Blair reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Monday, June 3rd. The Goldman Sachs Group started coverage on shares of Rocket Pharmaceuticals in a research note on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 price objective on the stock. Needham & Company LLC decreased their target price on shares of Rocket Pharmaceuticals from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Friday. Finally, UBS Group dropped their price target on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.13.

Rocket Pharmaceuticals Stock Performance

RCKT opened at $21.53 on Friday. Rocket Pharmaceuticals has a 1-year low of $14.89 and a 1-year high of $32.53. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -7.50 and a beta of 1.08. The business has a 50 day moving average price of $22.39 and a two-hundred day moving average price of $26.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 10.47 and a quick ratio of 10.47.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, May 6th. The biotechnology company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.01. During the same quarter last year, the business earned ($0.73) EPS. Research analysts predict that Rocket Pharmaceuticals will post -2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, insider John Militello sold 1,079 shares of Rocket Pharmaceuticals stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $23.35, for a total transaction of $25,194.65. Following the sale, the insider now owns 53,327 shares in the company, valued at $1,245,185.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Gaurav Shah sold 9,790 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $23.35, for a total transaction of $228,596.50. Following the completion of the transaction, the chief executive officer now owns 728,069 shares in the company, valued at approximately $17,000,411.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Militello sold 1,079 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $23.35, for a total value of $25,194.65. Following the completion of the sale, the insider now owns 53,327 shares in the company, valued at $1,245,185.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,282 shares of company stock worth $2,551,801. 31.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Annandale Capital LLC acquired a new position in Rocket Pharmaceuticals in the third quarter valued at approximately $66,000. Tower Research Capital LLC TRC increased its holdings in shares of Rocket Pharmaceuticals by 105.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,557 shares of the biotechnology company’s stock worth $107,000 after acquiring an additional 1,829 shares in the last quarter. Old Well Partners LLC bought a new position in shares of Rocket Pharmaceuticals during the 4th quarter valued at about $200,000. Capstone Investment Advisors LLC bought a new position in shares of Rocket Pharmaceuticals during the 4th quarter valued at about $217,000. Finally, Amalgamated Bank lifted its holdings in shares of Rocket Pharmaceuticals by 5.4% during the 4th quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock valued at $259,000 after purchasing an additional 440 shares in the last quarter. 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.