Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives $14.50 Average PT from Analysts

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been assigned a consensus rating of “Hold” from the eighteen ratings firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $14.3571.

RCKT has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a research note on Tuesday, November 18th. TD Cowen raised shares of Rocket Pharmaceuticals to a “hold” rating in a research report on Friday, December 19th. Morgan Stanley set a $5.00 price target on shares of Rocket Pharmaceuticals in a research note on Thursday. Leerink Partners lowered their price objective on shares of Rocket Pharmaceuticals from $9.00 to $7.00 and set a “market perform” rating on the stock in a research note on Friday, October 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Rocket Pharmaceuticals in a report on Friday, November 7th.

Rocket Pharmaceuticals Trading Down 3.9%

Rocket Pharmaceuticals stock opened at $3.73 on Thursday. The company has a market cap of $403.66 million, a price-to-earnings ratio of -1.66 and a beta of 0.47. The firm has a 50-day moving average of $3.34 and a 200-day moving average of $3.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.30 and a quick ratio of 7.30. Rocket Pharmaceuticals has a one year low of $2.19 and a one year high of $11.68.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Thursday, November 6th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.03. During the same period last year, the company posted ($0.71) earnings per share. On average, equities analysts expect that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

Insider Transactions at Rocket Pharmaceuticals

In other news, insider John Militello sold 28,918 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $3.96, for a total value of $114,515.28. Following the completion of the sale, the insider directly owned 67,006 shares of the company’s stock, valued at $265,343.76. This trade represents a 30.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 24.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in RCKT. Goldman Sachs Group Inc. grew its position in shares of Rocket Pharmaceuticals by 24.0% in the first quarter. Goldman Sachs Group Inc. now owns 995,690 shares of the biotechnology company’s stock valued at $6,641,000 after purchasing an additional 192,905 shares during the last quarter. Amitell Capital Pte Ltd acquired a new stake in Rocket Pharmaceuticals during the 2nd quarter worth approximately $556,000. Maverick Capital Ltd. boosted its stake in Rocket Pharmaceuticals by 60.9% in the 2nd quarter. Maverick Capital Ltd. now owns 8,363,813 shares of the biotechnology company’s stock valued at $20,491,000 after purchasing an additional 3,164,595 shares during the period. Farther Finance Advisors LLC grew its holdings in Rocket Pharmaceuticals by 7,818.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 13,540 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 13,369 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in Rocket Pharmaceuticals during the 2nd quarter worth $181,000. Institutional investors own 98.39% of the company’s stock.

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.