Rocket Pharmaceuticals (NASDAQ:RCKT) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a report issued on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $29.00 target price on the biotechnology company’s stock.

Several other equities research analysts have also commented on RCKT. Canaccord Genuity Group restated a “buy” rating and set a $39.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Scotiabank began coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 target price on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Finally, Leerink Partners cut their price objective on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.80.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ RCKT opened at $11.56 on Wednesday. The company has a market capitalization of $1.05 billion, a PE ratio of -4.20 and a beta of 1.01. 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 twelve month low of $11.15 and a twelve month high of $32.53. The firm has a fifty day simple moving average of $15.22 and a 200 day simple moving average of $18.67.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah sold 11,091 shares of the company’s stock in a transaction on 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 owns 707,328 shares in the company, valued at $9,230,630.40. This represents a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 13,490 shares of company stock worth $176,045. Insiders own 28.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in Rocket Pharmaceuticals by 31.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after buying an additional 764 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Rocket Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 582 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Rocket Pharmaceuticals during the third quarter valued at approximately $108,000. SG Americas Securities LLC bought a new stake in Rocket Pharmaceuticals during the third quarter worth $113,000. Finally, Dana Investment Advisors Inc. boosted its position in Rocket Pharmaceuticals by 4.4% in the second quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock worth $298,000 after purchasing an additional 586 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

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.