Brokerages Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) PT at $13.79

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have been assigned an average recommendation of “Hold” from the eighteen ratings firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $13.8571.

Several research firms recently weighed in on RCKT. The Goldman Sachs Group boosted their price objective on Rocket Pharmaceuticals to $3.00 and gave the stock a “sell” rating in a research report on Monday, March 2nd. Morgan Stanley set a $5.00 target price on Rocket Pharmaceuticals in a report on Thursday, January 8th. Cantor Fitzgerald lifted their price target on Rocket Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Wall Street Zen lowered Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, March 8th. Finally, Lifesci Capital raised Rocket Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, February 26th.

Rocket Pharmaceuticals Stock Down 8.8%

Rocket Pharmaceuticals stock opened at $3.44 on Tuesday. The firm has a market cap of $375.37 million, a price-to-earnings ratio of -1.71 and a beta of 0.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.38 and a quick ratio of 6.38. Rocket Pharmaceuticals has a fifty-two week low of $2.19 and a fifty-two week high of $8.26. The firm has a fifty day moving average price of $4.03 and a two-hundred day moving average price of $3.64.

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

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, General Counsel Martin Wilson sold 12,253 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $3.31, for a total transaction of $40,557.43. Following the transaction, the general counsel owned 683,376 shares in the company, valued at approximately $2,261,974.56. The trade was a 1.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gaurav Shah sold 12,279 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $3.31, for a total transaction of $40,643.49. Following the transaction, the chief executive officer directly owned 1,052,045 shares of the company’s stock, valued at $3,482,268.95. This represents a 1.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 29,415 shares of company stock valued at $97,398. Corporate insiders own 24.76% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in Rocket Pharmaceuticals by 148.4% in the 1st quarter. AQR Capital Management LLC now owns 163,622 shares of the biotechnology company’s stock valued at $1,091,000 after acquiring an additional 97,758 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Rocket Pharmaceuticals by 121.8% during the 1st quarter. Millennium Management LLC now owns 747,147 shares of the biotechnology company’s stock worth $4,983,000 after purchasing an additional 410,238 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Rocket Pharmaceuticals during the first quarter valued at approximately $189,000. Goldman Sachs Group Inc. raised its stake 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 in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Rocket Pharmaceuticals by 1.8% in the second quarter. Geode Capital Management LLC now owns 2,030,891 shares of the biotechnology company’s stock valued at $4,976,000 after purchasing an additional 36,847 shares in the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

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.