Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have earned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $52.13.

Several brokerages have issued reports on RCKT. UBS Group cut their target price on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Needham & Company LLC reissued a “buy” rating and issued a $53.00 price objective on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 10th. JPMorgan Chase & Co. decreased their price objective on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, February 27th. The Goldman Sachs Group initiated coverage on Rocket Pharmaceuticals in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th.

Rocket Pharmaceuticals Trading Down 0.6 %

Shares of RCKT opened at $21.85 on Tuesday. The business’s 50-day moving average price is $26.54 and its 200 day moving average price is $25.53. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.80 and a quick ratio of 7.80. Rocket Pharmaceuticals has a 1-year low of $14.89 and a 1-year high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, February 26th. The biotechnology company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.14. During the same quarter in the previous year, the company earned ($0.92) earnings per share. On average, analysts expect that Rocket Pharmaceuticals will post -2.94 earnings per share for the current fiscal year.

Insider Activity at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 20,272 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $29.84, for a total value of $604,916.48. Following the completion of the sale, the chief executive officer now directly owns 554,762 shares of the company’s stock, valued at $16,554,098.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Gaurav Shah sold 20,272 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $29.84, for a total transaction of $604,916.48. Following the transaction, the chief executive officer now owns 554,762 shares in the company, valued at approximately $16,554,098.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gotham Makker sold 274,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $28.43, for a total transaction of $7,789,820.00. Following the completion of the sale, the director now owns 365,912 shares of the company’s stock, valued at $10,402,878.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 414,935 shares of company stock valued at $11,476,424. 31.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in Rocket Pharmaceuticals by 2.2% in the 4th quarter. Wellington Management Group LLP now owns 8,197,546 shares of the biotechnology company’s stock worth $245,680,000 after purchasing an additional 174,716 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Rocket Pharmaceuticals by 18.3% in the fourth quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock valued at $163,264,000 after purchasing an additional 843,552 shares during the period. Westfield Capital Management Co. LP lifted its stake in shares of Rocket Pharmaceuticals by 14.7% in the third quarter. Westfield Capital Management Co. LP now owns 4,193,996 shares of the biotechnology company’s stock worth $85,935,000 after buying an additional 538,209 shares during the last quarter. Avidity Partners Management LP boosted its holdings in shares of Rocket Pharmaceuticals by 8.3% during the 4th quarter. Avidity Partners Management LP now owns 1,719,103 shares of the biotechnology company’s stock worth $51,522,000 after buying an additional 131,674 shares during the period. Finally, Perceptive Advisors LLC grew its stake in Rocket Pharmaceuticals by 12.5% in the 4th quarter. Perceptive Advisors LLC now owns 1,707,398 shares of the biotechnology company’s stock valued at $51,171,000 after buying an additional 189,931 shares during the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

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.