Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Average Recommendation of “Moderate Buy” by Analysts

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $51.00.

RCKT has been the topic of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Scotiabank initiated coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 target price for the company. Canaccord Genuity Group reissued a “buy” rating and set a $39.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Chardan Capital reissued a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $52.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $13.05, for a total value of $144,737.55. Following the completion of the sale, the chief executive officer now directly owns 707,328 shares of the company’s stock, valued at approximately $9,230,630.40. This represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 13,490 shares of company stock valued at $176,045. Corporate insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its position in Rocket Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 582 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Rocket Pharmaceuticals by 31.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after acquiring an additional 764 shares during the period. Values First Advisors Inc. bought a new position in shares of Rocket Pharmaceuticals during the 3rd quarter valued at approximately $108,000. SG Americas Securities LLC bought a new position in shares of Rocket Pharmaceuticals during the 3rd quarter valued at approximately $113,000. Finally, XTX Topco Ltd bought a new position in shares of Rocket Pharmaceuticals during the 3rd quarter valued at approximately $286,000. 98.39% of the stock is owned by institutional investors.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ RCKT opened at $13.50 on Wednesday. The firm’s 50-day moving average price is $16.39 and its 200-day moving average price is $19.44. Rocket Pharmaceuticals has a 1-year low of $12.62 and a 1-year high of $32.53. The firm has a market capitalization of $1.23 billion, a P/E ratio of -4.91 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 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.