Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $37.73.

RCKT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Rocket Pharmaceuticals from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, May 9th. Cantor Fitzgerald upped their price objective on shares of Rocket Pharmaceuticals from $20.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Scotiabank dropped their price objective on shares of Rocket Pharmaceuticals from $52.00 to $51.00 and set a “sector outperform” rating for the company in a research note on Monday, May 12th. BMO Capital Markets assumed coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 target price for the company. Finally, Canaccord Genuity Group dropped their target price on shares of Rocket Pharmaceuticals from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, May 12th.

Rocket Pharmaceuticals Trading Down 62.8%

NASDAQ RCKT opened at $2.33 on Wednesday. Rocket Pharmaceuticals has a 12 month low of $2.19 and a 12 month high of $26.98. The company has a 50-day moving average of $6.56 and a 200-day moving average of $9.73. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The company has a market cap of $248.81 million, a P/E ratio of -0.85 and a beta of 1.02.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data 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 quarter last year, the company posted ($0.66) EPS. As a group, equities analysts predict that Rocket Pharmaceuticals will post -2.83 earnings per share for the current year.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CFO Aaron Ondrey sold 7,489 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $5.29, for a total value of $39,616.81. Following the completion of the sale, the chief financial officer now owns 129,650 shares of the company’s stock, valued at $685,848.50. This trade represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kinnari Patel purchased 21,099 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 26,774 shares of the company’s stock, valued at approximately $125,837.80. This represents a 371.79% increase in their position. The disclosure for this purchase can be found here. 24.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in Rocket Pharmaceuticals by 796.2% during the fourth 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 last quarter. Jennison Associates LLC increased its holdings in shares of Rocket Pharmaceuticals by 72.6% during the fourth quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company’s stock valued at $884,000 after purchasing an additional 29,564 shares during the period. Sovran Advisors LLC acquired a new position in Rocket Pharmaceuticals during the fourth quarter worth about $1,895,000. Raymond James Financial Inc. acquired a new position in Rocket Pharmaceuticals during the fourth quarter worth about $285,000. Finally, Strategic Financial Concepts LLC acquired a new position in Rocket Pharmaceuticals during the fourth quarter worth about $141,000. 98.39% of the stock is currently owned by 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.