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

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $43.00.

A number of equities research analysts recently commented on RCKT shares. Chardan Capital lowered their price target on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a report on Friday, February 28th. Canaccord Genuity Group lowered their price target on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Scotiabank lifted their price objective on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. The Goldman Sachs Group dropped their price target on Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Finally, BMO Capital Markets initiated coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 target price for the company.

Rocket Pharmaceuticals Trading Up 1.9 %

NASDAQ RCKT opened at $8.01 on Friday. The stock’s 50-day simple moving average is $7.37 and its two-hundred day simple moving average is $11.08. Rocket Pharmaceuticals has a twelve month low of $4.55 and a twelve month high of $26.98. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $854.11 million, a price-to-earnings ratio of -2.91 and a beta of 1.00.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.06. Research analysts forecast that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

Insider Transactions at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah purchased 20,000 shares of the business’s stock in a transaction dated Thursday, April 10th. The shares were purchased at an average price of $5.08 per share, for a total transaction of $101,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 792,680 shares in the company, valued at $4,026,814.40. This represents a 2.59 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kinnari Patel purchased 21,099 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average cost of $4.70 per share, with a total value of $99,165.30. Following the transaction, the insider now directly owns 26,774 shares of the company’s stock, valued at $125,837.80. This represents a 371.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 28.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. lifted its stake in Rocket Pharmaceuticals by 7.4% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 237,499 shares of the biotechnology company’s stock valued at $2,985,000 after acquiring an additional 16,453 shares during the period. Mirador Capital Partners LP lifted its position in Rocket Pharmaceuticals by 403.9% during the fourth quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company’s stock valued at $1,063,000 after purchasing an additional 67,755 shares during the period. SG Americas Securities LLC grew its position in Rocket Pharmaceuticals by 796.2% in the 4th quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company’s stock worth $690,000 after purchasing an additional 48,793 shares during the period. KBC Group NV raised its stake in Rocket Pharmaceuticals by 159.6% during the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock valued at $69,000 after buying an additional 3,366 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Rocket Pharmaceuticals by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,329 shares of the biotechnology company’s stock valued at $243,000 after buying an additional 1,824 shares during the period. 98.39% of the stock is owned by 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.