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

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have received an average recommendation of “Hold” from the eighteen analysts that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $13.7857.

RCKT has been the topic of several analyst reports. Lifesci Capital upgraded Rocket Pharmaceuticals to a “strong-buy” rating in a report on Thursday, February 26th. Wall Street Zen cut Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, March 8th. Cantor Fitzgerald lifted their price target on shares of Rocket Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Morgan Stanley set a $5.00 price target on shares of Rocket Pharmaceuticals in a report on Thursday, January 8th. Finally, The Goldman Sachs Group increased their price objective on shares of Rocket Pharmaceuticals to $3.00 and gave the company a “sell” rating in a research note on Monday, March 2nd.

Insider Transactions at Rocket Pharmaceuticals

In other news, General Counsel Martin Wilson sold 12,253 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $3.31, for a total value of $40,557.43. Following the sale, the general counsel owned 683,376 shares in the company, valued at approximately $2,261,974.56. This represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gaurav Shah sold 12,279 shares of Rocket Pharmaceuticals stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $3.31, for a total value of $40,643.49. Following the completion of the transaction, the chief executive officer owned 1,052,045 shares of the company’s stock, valued at $3,482,268.95. This trade represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 29,415 shares of company stock worth $97,398. Company insiders own 24.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RCKT. Prudential Financial Inc. bought a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter valued at approximately $25,000. Franklin Resources Inc. acquired a new stake in shares of Rocket Pharmaceuticals during the 4th quarter valued at approximately $38,000. Sequoia Financial Advisors LLC bought a new position in Rocket Pharmaceuticals during the fourth quarter worth $42,000. CANADA LIFE ASSURANCE Co lifted its stake in Rocket Pharmaceuticals by 94.4% during the second quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 5,926 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Rocket Pharmaceuticals in the third quarter worth $40,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Up 4.8%

Shares of Rocket Pharmaceuticals stock opened at $4.34 on Tuesday. Rocket Pharmaceuticals has a 1-year low of $2.19 and a 1-year high of $8.80. The company has a market capitalization of $471.19 million, a PE ratio of -2.16 and a beta of 0.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.38 and a quick ratio of 6.38. The business has a 50-day moving average of $3.99 and a 200-day moving average of $3.61.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.04. During the same period last year, the firm posted ($0.62) earnings per share. As a group, equities analysts forecast that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.

The company’s pipeline comprises multiple product candidates in various stages of development.