Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives Average Rating of “Hold” from Brokerages

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have received a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $18.60.

RCKT has been the topic of several research reports. Canaccord Genuity Group lowered their price objective on shares of Rocket Pharmaceuticals from $34.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, June 3rd. Chardan Capital lowered their price target on shares of Rocket Pharmaceuticals from $46.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, May 28th. Needham & Company LLC downgraded Rocket Pharmaceuticals from a “buy” rating to a “hold” rating and set a $42.00 price objective on the stock. in a research note on Tuesday, May 27th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 28th. Finally, UBS Group dropped their price target on Rocket Pharmaceuticals from $12.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, June 17th.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT opened at $2.86 on Thursday. The stock has a 50 day moving average of $3.80 and a 200 day moving average of $7.15. The company has a market capitalization of $305.42 million, a price-to-earnings ratio of -1.09 and a beta of 0.67. Rocket Pharmaceuticals has a 12 month low of $2.19 and a 12 month high of $26.98. The company has a current ratio of 9.19, a quick ratio of 9.19 and a debt-to-equity ratio of 0.05.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.02. During the same period in the previous year, the business earned ($0.66) EPS. As a group, sell-side analysts forecast that Rocket Pharmaceuticals will post -2.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in Rocket Pharmaceuticals by 7,818.1% during the second quarter. Farther Finance Advisors LLC now owns 13,540 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 13,369 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Rocket Pharmaceuticals by 24.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 995,690 shares of the biotechnology company’s stock valued at $6,641,000 after acquiring an additional 192,905 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Rocket Pharmaceuticals by 8.4% during the 1st quarter. Rhumbline Advisers now owns 107,638 shares of the biotechnology company’s stock valued at $718,000 after acquiring an additional 8,299 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Rocket Pharmaceuticals during the first quarter worth about $189,000. Finally, Millennium Management LLC grew its holdings in shares of Rocket Pharmaceuticals by 121.8% during the first quarter. Millennium Management LLC now owns 747,147 shares of the biotechnology company’s stock worth $4,983,000 after purchasing an additional 410,238 shares in the last quarter. 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.