Rocket Pharmaceuticals (NASDAQ:RCKT) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKT – Get Rating) in a research report released on Thursday. The firm issued a sell rating on the biotechnology company’s stock.

Several other analysts have also recently issued reports on the stock. Morgan Stanley started coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, February 1st. They issued an overweight rating and a $45.00 price target on the stock. SVB Leerink cut their target price on shares of Rocket Pharmaceuticals from $50.00 to $49.00 and set an outperform rating on the stock in a research note on Monday, January 23rd. Needham & Company LLC reiterated a buy rating and issued a $60.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 28th. Chardan Capital lowered their price objective on Rocket Pharmaceuticals from $65.00 to $63.00 and set a buy rating for the company in a report on Wednesday, March 1st. Finally, Bank of America reduced their target price on Rocket Pharmaceuticals from $38.00 to $35.00 and set a buy rating on the stock in a report on Friday, December 23rd. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of Moderate Buy and a consensus price target of $52.58.

Rocket Pharmaceuticals Stock Down 5.4 %

Shares of NASDAQ RCKT opened at $17.59 on Thursday. The company has a quick ratio of 9.29, a current ratio of 9.29 and a debt-to-equity ratio of 0.04. Rocket Pharmaceuticals has a 1 year low of $7.57 and a 1 year high of $23.48. The stock’s 50-day simple moving average is $20.18 and its 200-day simple moving average is $18.44.

Rocket Pharmaceuticals (NASDAQ:RCKT – Get Rating) last issued its quarterly earnings data on Monday, February 27th. The biotechnology company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.10). During the same quarter in the previous year, the business posted ($0.69) earnings per share. As a group, analysts forecast that Rocket Pharmaceuticals will post -3.31 EPS for the current year.

Insider Buying and Selling

In related news, CEO Gaurav Shah sold 12,194 shares of the company’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $19.06, for a total transaction of $232,417.64. Following the completion of the transaction, the chief executive officer now directly owns 536,885 shares in the company, valued at approximately $10,233,028.10. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Rocket Pharmaceuticals news, insider Jonathan David Schwartz sold 3,557 shares of the company’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $19.06, for a total value of $67,796.42. Following the completion of the transaction, the insider now owns 94,546 shares in the company, valued at approximately $1,802,046.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gaurav Shah sold 12,194 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $19.06, for a total value of $232,417.64. Following the sale, the chief executive officer now directly owns 536,885 shares in the company, valued at approximately $10,233,028.10. The disclosure for this sale can be found here. Company insiders own 33.67% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new position in Rocket Pharmaceuticals during the 3rd quarter valued at about $28,000. Advisor Group Holdings Inc. increased its stake in shares of Rocket Pharmaceuticals by 861.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 1,923 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 1,723 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in Rocket Pharmaceuticals during the fourth quarter worth approximately $39,000. Great West Life Assurance Co. Can acquired a new stake in Rocket Pharmaceuticals in the third quarter worth approximately $40,000. Finally, Wells Fargo & Company MN boosted its stake in Rocket Pharmaceuticals by 63.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,644 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 1,031 shares in the last quarter. Institutional investors own 93.23% of the company’s stock.

Rocket Pharmaceuticals Company Profile

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Rocket Pharmaceuticals, Inc is a clinical-stage biotechnology company, which engages in the development of gene therapy treatment options for rare and devastating pediatric diseases. Its multi-platform development approach applies the lentiviral vector and adeno-associated viral vector gene therapy platforms.