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

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $52.13.

Several equities analysts have recently commented on RCKT shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th. JPMorgan Chase & Co. reduced their target price on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $53.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, May 7th. StockNews.com raised Rocket Pharmaceuticals to a “sell” rating in a report on Friday, February 9th. Finally, UBS Group reduced their price target on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, March 1st.

Rocket Pharmaceuticals Stock Performance

RCKT stock opened at $21.42 on Friday. The stock’s 50 day simple moving average is $24.21 and its 200 day simple moving average is $26.07. Rocket Pharmaceuticals has a 12-month low of $14.89 and a 12-month high of $32.53. The firm has a market cap of $1.94 billion, a P/E ratio of -7.46 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 (NASDAQ:RCKT) last posted its quarterly earnings results on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.01. During the same quarter in the prior year, the company earned ($0.73) earnings per share. As a group, equities research analysts predict that Rocket Pharmaceuticals will post -2.85 EPS for the current year.

Insider Buying and Selling

In other news, insider John Militello sold 10,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $29.84, for a total transaction of $298,400.00. Following the completion of the sale, the insider now owns 21,517 shares in the company, valued at approximately $642,067.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider John Militello sold 10,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $29.84, for a total value of $298,400.00. Following the completion of the sale, the insider now directly owns 21,517 shares of the company’s stock, valued at approximately $642,067.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Andrew White sold 12,532 shares of Rocket Pharmaceuticals stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $24.64, for a total value of $308,788.48. Following the transaction, the insider now directly owns 75,226 shares in the company, valued at approximately $1,853,568.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 395,872 shares of company stock worth $10,830,243. Corporate insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank raised its holdings in shares of Rocket Pharmaceuticals by 5.4% during the fourth quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock worth $259,000 after acquiring an additional 440 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Rocket Pharmaceuticals by 14.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company’s stock valued at $105,000 after buying an additional 633 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Rocket Pharmaceuticals by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 17,963 shares of the biotechnology company’s stock worth $538,000 after buying an additional 661 shares during the last quarter. Torray Investment Partners LLC raised its position in Rocket Pharmaceuticals by 1.1% during the fourth quarter. Torray Investment Partners LLC now owns 60,856 shares of the biotechnology company’s stock valued at $1,824,000 after acquiring an additional 679 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in Rocket Pharmaceuticals by 5.8% in the third quarter. Teacher Retirement System of Texas now owns 15,955 shares of the biotechnology company’s stock valued at $327,000 after acquiring an additional 875 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Company Profile

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.