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

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have been given a consensus recommendation of “Hold” by the seventeen ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $16.40.

RCKT has been the topic of several research reports. TD Cowen reissued a “hold” rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, May 27th. Leerink Partnrs cut Rocket Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 27th. Chardan Capital dropped their target price on Rocket Pharmaceuticals from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, July 24th. Evercore ISI cut Rocket Pharmaceuticals from an “outperform” rating to an “in-line” rating and set a $5.00 target price on the stock. in a research report on Friday, May 30th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $7.00 target price on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 28th.

Rocket Pharmaceuticals Price Performance

NASDAQ RCKT opened at $2.86 on Monday. Rocket Pharmaceuticals has a one year low of $2.19 and a one year high of $22.01. The stock has a 50-day moving average of $2.95 and a 200 day moving average of $6.11. The company has a market capitalization of $308.59 million, a price-to-earnings ratio of -1.14 and a beta of 0.65. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.19 and a current ratio of 9.19.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.02). During the same period last year, the firm earned ($0.74) earnings per share. On average, sell-side analysts forecast that Rocket Pharmaceuticals will post -2.83 EPS for the current year.

Institutional Trading of Rocket Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its stake in Rocket Pharmaceuticals by 5.5% during the 4th quarter. California State Teachers Retirement System now owns 63,637 shares of the biotechnology company’s stock valued at $800,000 after purchasing an additional 3,344 shares during the period. Two Sigma Investments LP raised its stake in Rocket Pharmaceuticals by 88.6% during the 4th quarter. Two Sigma Investments LP now owns 41,142 shares of the biotechnology company’s stock valued at $517,000 after purchasing an additional 19,326 shares during the period. Rhumbline Advisers raised its stake in 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 purchasing an additional 8,299 shares during the period. Raymond James Financial Inc. bought a new stake in Rocket Pharmaceuticals during the 4th quarter valued at approximately $285,000. Finally, Northern Trust Corp raised its stake in Rocket Pharmaceuticals by 14.2% during the 4th quarter. Northern Trust Corp now owns 663,152 shares of the biotechnology company’s stock valued at $8,336,000 after purchasing an additional 82,316 shares during the period. Institutional investors own 98.39% of the company’s stock.

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.