Rocket Pharmaceuticals (NASDAQ:RCKT) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Rocket Pharmaceuticals (NASDAQ:RCKT) from a sell rating to a hold rating in a research report report published on Monday.

A number of other analysts have also recently commented on the stock. Wedbush lowered their target price on shares of Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Chardan Capital restated a “buy” rating and set a $11.00 price target on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. Finally, Weiss Ratings cut shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.57.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ RCKT opened at $3.40 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.24 and a current ratio of 9.24. The company has a market cap of $373.25 million, a PE ratio of -20.00 and a beta of 0.47. The business has a 50-day simple moving average of $3.40 and a two-hundred day simple moving average of $3.60. Rocket Pharmaceuticals has a fifty-two week low of $2.53 and a fifty-two week high of $5.45.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Monday, August 10th. The biotechnology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.22. During the same period in the previous year, the business posted ($0.62) EPS. As a group, equities analysts expect that Rocket Pharmaceuticals will post -1.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Christopher James Stevens sold 36,658 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $3.50, for a total value of $128,303.00. Following the transaction, the chief operating officer owned 505,784 shares in the company, valued at approximately $1,770,244. This represents a 6.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gaurav Shah sold 55,684 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $3.09, for a total transaction of $172,063.56. Following the completion of the transaction, the chief executive officer owned 1,061,724 shares in the company, valued at approximately $3,280,727.16. This trade represents a 4.98% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 103,373 shares of company stock worth $338,215. 21.30% of the stock is owned by insiders.

Institutional Trading of Rocket Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Prudential Financial Inc. acquired a new stake in shares of Rocket Pharmaceuticals in the second quarter worth $25,000. Allworth Financial LP purchased a new stake in shares of Rocket Pharmaceuticals in the second quarter valued at approximately $28,000. CANADA LIFE ASSURANCE Co increased its position in shares of Rocket Pharmaceuticals by 94.4% in the second quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 5,926 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Rocket Pharmaceuticals during the 2nd quarter worth approximately $31,000. Finally, Franklin Resources Inc. acquired a new position in shares of Rocket Pharmaceuticals during the 4th quarter worth approximately $38,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

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.