Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $52.13.

Several equities research analysts have recently weighed in on RCKT shares. Needham & Company LLC reissued a “buy” rating and issued a $53.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, May 7th. The Goldman Sachs Group initiated coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 price target for the company. StockNews.com upgraded shares of Rocket Pharmaceuticals to a “sell” rating in a report on Friday, February 9th. UBS Group reduced their target price on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. lowered their price target on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 27th.

Rocket Pharmaceuticals Stock Performance

NASDAQ:RCKT opened at $22.44 on Friday. The firm has a market capitalization of $2.04 billion, a PE ratio of -7.82 and a beta of 1.12. The company has a current ratio of 10.47, a quick ratio of 10.47 and a debt-to-equity ratio of 0.04. Rocket Pharmaceuticals has a 1 year low of $14.89 and a 1 year high of $32.53. The firm’s fifty day simple moving average is $24.43 and its 200 day simple moving average is $26.09.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.67) by $0.01. During the same period last year, the firm posted ($0.73) EPS. On average, sell-side analysts anticipate that Rocket Pharmaceuticals will post -2.85 EPS for the current year.

Insider Transactions at Rocket Pharmaceuticals

In other news, insider John Militello sold 1,079 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $23.35, for a total transaction of $25,194.65. Following the completion of the transaction, the insider now directly owns 53,327 shares of the company’s stock, valued at $1,245,185.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director David P. Southwell sold 10,000 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $24.05, for a total transaction of $240,500.00. Following the completion of the transaction, the director now directly owns 114,784 shares in the company, valued at approximately $2,760,555.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John Militello sold 1,079 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $23.35, for a total value of $25,194.65. Following the completion of the transaction, the insider now owns 53,327 shares of the company’s stock, valued at approximately $1,245,185.45. The disclosure for this sale can be found here. Insiders sold 395,872 shares of company stock valued at $10,830,243 over the last quarter. Corporate insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Annandale Capital LLC bought a new position in shares of Rocket Pharmaceuticals during the 3rd quarter worth approximately $66,000. Tower Research Capital LLC TRC lifted its holdings in Rocket Pharmaceuticals by 105.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,557 shares of the biotechnology company’s stock valued at $107,000 after purchasing an additional 1,829 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Rocket Pharmaceuticals by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 633 shares during the period. Old Well Partners LLC acquired a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at $200,000. Finally, Capstone Investment Advisors LLC bought a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at about $217,000. 98.39% of the stock is owned by institutional investors.

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.