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

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have earned a consensus rating of “Hold” from the eighteen research firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $15.4667.

RCKT has been the subject of several analyst reports. Wedbush restated an “outperform” rating and issued a $16.00 price objective on shares of Rocket Pharmaceuticals in a report on Friday, November 7th. Cantor Fitzgerald decreased their price target on Rocket Pharmaceuticals from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Rocket Pharmaceuticals in a research report on Thursday, July 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rocket Pharmaceuticals in a report on Wednesday, October 8th. Finally, Bank of America cut their price objective on Rocket Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday.

Rocket Pharmaceuticals Stock Down 3.3%

RCKT stock opened at $2.94 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.39 and a quick ratio of 6.39. The stock has a market capitalization of $318.17 million, a P/E ratio of -1.17 and a beta of 0.69. Rocket Pharmaceuticals has a fifty-two week low of $2.19 and a fifty-two week high of $15.01. The business has a 50-day moving average of $3.42 and a 200-day moving average of $3.57.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Thursday, November 6th. The biotechnology company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.03. During the same quarter last year, the firm posted ($0.71) EPS. On average, sell-side analysts anticipate that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider John Militello sold 28,918 shares of the firm’s stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $3.96, for a total transaction of $114,515.28. Following the completion of the sale, the insider owned 67,006 shares of the company’s stock, valued at $265,343.76. This trade represents a 30.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Elisabeth Bjork acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was bought at an average price of $3.41 per share, for a total transaction of $34,100.00. Following the completion of the acquisition, the director owned 40,000 shares of the company’s stock, valued at approximately $136,400. The trade was a 33.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 24.76% of the company’s stock.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of Rocket Pharmaceuticals by 16.1% during the first quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 1,658 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Rocket Pharmaceuticals by 8.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,885 shares of the biotechnology company’s stock valued at $146,000 after buying an additional 1,689 shares in the last quarter. HighTower Advisors LLC increased its position in Rocket Pharmaceuticals by 16.6% during the 1st quarter. HighTower Advisors LLC now owns 20,700 shares of the biotechnology company’s stock worth $138,000 after buying an additional 2,952 shares during the period. Arizona State Retirement System increased its position in Rocket Pharmaceuticals by 15.3% during the 1st quarter. Arizona State Retirement System now owns 22,852 shares of the biotechnology company’s stock worth $152,000 after buying an additional 3,026 shares during the period. Finally, Cornerstone Select Advisors LLC lifted its holdings in shares of Rocket Pharmaceuticals by 16.9% during the first quarter. Cornerstone Select Advisors LLC now owns 22,265 shares of the biotechnology company’s stock worth $149,000 after buying an additional 3,220 shares in the last quarter. Institutional investors and hedge funds 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.