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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has received an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $48.80.

Several brokerages recently issued reports on RCKT. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Scotiabank started 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 on the stock. Jefferies Financial Group assumed coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, December 18th. They issued a “buy” rating and a $29.00 target price for the company. Leerink Partners cut their price target on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Finally, 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.

Rocket Pharmaceuticals Price Performance

RCKT stock opened at $11.75 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The business has a 50-day simple moving average of $14.50 and a two-hundred day simple moving average of $18.22. The company has a market capitalization of $1.07 billion, a P/E ratio of -4.27 and a beta of 1.01. Rocket Pharmaceuticals has a 52-week low of $11.15 and a 52-week high of $32.53.

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 transaction of $144,737.55. Following the sale, the chief executive officer now directly owns 707,328 shares of the company’s stock, valued at $9,230,630.40. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 13,490 shares of company stock valued at $176,045 over the last ninety days. 28.50% of the stock is currently owned by insiders.

Institutional Trading of Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in Rocket Pharmaceuticals by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock worth $29,888,000 after buying an additional 14,256 shares during the period. Main Management ETF Advisors LLC bought a new position in shares of Rocket Pharmaceuticals in the third quarter worth $602,000. XTX Topco Ltd bought a new position in shares of Rocket Pharmaceuticals in the third quarter worth $286,000. Wellington Management Group LLP grew its position in shares of Rocket Pharmaceuticals by 22.8% in the third quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock valued at $207,642,000 after purchasing an additional 2,086,424 shares in the last quarter. Finally, Sphera Funds Management LTD. raised its stake in shares of Rocket Pharmaceuticals by 12.0% during the 3rd quarter. Sphera Funds Management LTD. now owns 231,792 shares of the biotechnology company’s stock valued at $4,281,000 after purchasing an additional 24,859 shares during the period. 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.