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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been given an average recommendation of “Hold” by the seventeen research firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $14.3571.

RCKT has been the topic of a number of recent analyst reports. Wedbush restated an “outperform” rating and issued a $16.00 price target on shares of Rocket Pharmaceuticals in a report on Friday, November 7th. TD Cowen raised shares of Rocket Pharmaceuticals to a “hold” rating in a research report on Friday, December 19th. JPMorgan Chase & Co. lowered shares of Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a report on Tuesday, November 18th. Morgan Stanley set a $5.00 price target on Rocket Pharmaceuticals in a research report on Thursday, January 8th. Finally, Bank of America decreased their price objective on Rocket Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 18th.

Rocket Pharmaceuticals Trading Up 4.6%

RCKT opened at $4.53 on Friday. The company has a current ratio of 7.30, a quick ratio of 7.30 and a debt-to-equity ratio of 0.06. The firm has a market cap of $490.24 million, a price-to-earnings ratio of -2.01 and a beta of 0.48. Rocket Pharmaceuticals has a 12 month low of $2.19 and a 12 month high of $9.81. The stock has a fifty day moving average price of $3.58 and a 200-day moving average price of $3.43.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings data on Thursday, February 26th. The biotechnology company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.04. During the same period in the prior year, the company posted ($0.62) EPS. As a group, equities research analysts anticipate that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

Insider Transactions at Rocket Pharmaceuticals

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

Institutional Trading of Rocket Pharmaceuticals

Several large investors have recently bought and sold shares of RCKT. Maverick Capital Ltd. raised its holdings in shares of Rocket Pharmaceuticals by 60.9% in the second quarter. Maverick Capital Ltd. now owns 8,363,813 shares of the biotechnology company’s stock worth $20,491,000 after buying an additional 3,164,595 shares during the last quarter. Monaco Asset Management SAM increased its position in shares of Rocket Pharmaceuticals by 538.8% in the 3rd quarter. Monaco Asset Management SAM now owns 2,892,261 shares of the biotechnology company’s stock valued at $9,429,000 after acquiring an additional 2,439,494 shares during the period. MPM Bioimpact LLC raised its stake in Rocket Pharmaceuticals by 141.2% in the 2nd quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock worth $9,563,000 after acquiring an additional 2,284,816 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in Rocket Pharmaceuticals by 690.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,548,262 shares of the biotechnology company’s stock worth $3,793,000 after acquiring an additional 1,352,469 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Rocket Pharmaceuticals by 52.0% during the 3rd quarter. Millennium Management LLC now owns 3,570,391 shares of the biotechnology company’s stock worth $11,639,000 after acquiring an additional 1,221,554 shares during the period. Hedge funds and other institutional investors own 98.39% of the company’s stock.

About Rocket Pharmaceuticals

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.