Analysts Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Price Target at $48.80

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $47.27.

Several research firms recently weighed in on RCKT. Jefferies Financial Group began coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $29.00 target price on the stock. Wedbush initiated coverage on Rocket Pharmaceuticals in a research note on Monday. They set an “outperform” rating and a $32.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Scotiabank initiated coverage on Rocket Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th.

Insider Activity at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 11,091 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was 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 $9,230,630.40. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 13,490 shares of company stock valued at $176,045 over the last ninety days. Corporate insiders own 28.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Rocket Pharmaceuticals by 21.5% during the third 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 during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Rocket Pharmaceuticals during the third quarter worth $108,000. SG Americas Securities LLC bought a new position in shares of Rocket Pharmaceuticals in the 3rd quarter worth about $113,000. XTX Topco Ltd acquired a new position in shares of Rocket Pharmaceuticals in the 3rd quarter valued at about $286,000. Finally, Verition Fund Management LLC acquired a new position in shares of Rocket Pharmaceuticals in the 3rd quarter valued at about $290,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT opened at $12.57 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. Rocket Pharmaceuticals has a 1-year low of $11.15 and a 1-year high of $31.47. The firm has a market capitalization of $1.15 billion, a P/E ratio of -4.57 and a beta of 1.01. The business’s 50-day simple moving average is $14.29 and its 200-day simple moving average is $18.01.

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.