Chardan Capital Forecasts Strong Price Appreciation for Rocket Pharmaceuticals (NASDAQ:RCKT) Stock

Rocket Pharmaceuticals (NASDAQ:RCKT) had its price target raised by investment analysts at Chardan Capital from $45.00 to $46.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Chardan Capital also issued estimates for Rocket Pharmaceuticals’ FY2025 earnings at ($2.32) EPS and FY2026 earnings at ($2.05) EPS.

RCKT has been the topic of a number of other research reports. Scotiabank reduced their target price on Rocket Pharmaceuticals from $52.00 to $51.00 and set a “sector outperform” rating on the stock in a research report on Monday, May 12th. BMO Capital Markets began coverage on Rocket Pharmaceuticals in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on Rocket Pharmaceuticals from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, May 9th. The Goldman Sachs Group dropped their price objective on Rocket Pharmaceuticals from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.73.

Rocket Pharmaceuticals Price Performance

NASDAQ:RCKT opened at $6.50 on Friday. Rocket Pharmaceuticals has a 52 week low of $4.55 and a 52 week 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 $694.11 million, a P/E ratio of -2.36 and a beta of 1.02. The stock’s fifty day moving average is $6.93 and its two-hundred day moving average is $10.28.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.02. During the same period in the previous year, the company posted ($0.66) earnings per share. Equities analysts expect that Rocket Pharmaceuticals will post -2.83 EPS for the current year.

Insider Buying and Selling

In related news, CFO Aaron Ondrey sold 7,489 shares of the business’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $5.29, for a total transaction of $39,616.81. Following the completion of the transaction, the chief financial officer now directly owns 129,650 shares of the company’s stock, valued at $685,848.50. The trade was a 5.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kinnari Patel bought 21,099 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were bought at an average cost of $4.70 per share, with a total value of $99,165.30. Following the completion of the purchase, the insider now directly owns 26,774 shares in the company, 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. 24.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of Rocket Pharmaceuticals by 1.3% during the 4th quarter. Rhumbline Advisers now owns 99,339 shares of the biotechnology company’s stock worth $1,249,000 after acquiring an additional 1,242 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Rocket Pharmaceuticals by 4.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company’s stock worth $408,000 after acquiring an additional 1,280 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Rocket Pharmaceuticals by 8.4% during the 4th quarter. Arizona State Retirement System now owns 19,826 shares of the biotechnology company’s stock worth $249,000 after acquiring an additional 1,528 shares in the last quarter. Virtus ETF Advisers LLC boosted its position in shares of Rocket Pharmaceuticals by 40.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 1,628 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Rocket Pharmaceuticals by 16.1% during the 1st quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 1,658 shares in the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

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.