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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has received an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $47.27.

Several equities analysts have recently commented on RCKT shares. Chardan Capital reissued a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Scotiabank assumed coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price objective for the company. Jefferies Financial Group began coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They issued a “buy” rating and a $29.00 target price on the stock. Leerink Partners cut their price target on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th.

Rocket Pharmaceuticals Price Performance

NASDAQ:RCKT opened at $10.48 on Thursday. The business’s 50-day simple moving average is $12.46 and its two-hundred day simple moving average is $16.92. Rocket Pharmaceuticals has a 52 week low of $10.07 and a 52 week high of $31.47. The stock has a market cap of $955.36 million, a PE ratio of -3.81 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 (NASDAQ:RCKT) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.07. As a group, analysts forecast that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

Insider Transactions at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 11,091 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $13.05, for a total transaction of $144,737.55. Following the completion of the transaction, the chief executive officer now owns 707,328 shares in the company, valued at $9,230,630.40. The trade was a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 13,490 shares of company stock worth $176,045. 28.50% of the stock is currently owned by insiders.

Institutional Trading of Rocket Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its stake 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 buying an additional 582 shares during the period. KBC Group NV raised its stake in shares of Rocket Pharmaceuticals by 159.6% during the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 3,366 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Rocket Pharmaceuticals in the third quarter valued at approximately $108,000. SG Americas Securities LLC bought a new position in Rocket Pharmaceuticals in the third quarter worth approximately $113,000. Finally, XTX Topco Ltd purchased a new position in Rocket Pharmaceuticals during the 3rd quarter worth $286,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

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.