Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have been given an average recommendation of “Hold” by the ten research firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $8.5714.

A number of equities research analysts have issued reports on the stock. Wedbush reduced their price objective on shares of Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Chardan Capital restated a “buy” rating and issued a $11.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. Wall Street Zen upgraded Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, August 17th. Finally, Weiss Ratings lowered Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, COO Christopher James Stevens sold 36,658 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was 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 of the company’s stock, valued at approximately $1,770,244. The trade was a 6.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 50,613 shares of company stock valued at $176,035 over the last 90 days. 21.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC grew its position in Rocket Pharmaceuticals by 148.4% during the first quarter. AQR Capital Management LLC now owns 163,622 shares of the biotechnology company’s stock valued at $1,091,000 after buying an additional 97,758 shares during the period. Millennium Management LLC raised its position in Rocket Pharmaceuticals by 121.8% in the first quarter. Millennium Management LLC now owns 747,147 shares of the biotechnology company’s stock worth $4,983,000 after acquiring an additional 410,238 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Rocket Pharmaceuticals in the first quarter worth about $189,000. Goldman Sachs Group Inc. boosted its stake in 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 acquiring an additional 192,905 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in 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 acquiring an additional 36,847 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors.

Rocket Pharmaceuticals Price Performance

RCKT opened at $3.78 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 9.24 and a quick ratio of 9.24. The company has a market capitalization of $414.97 million, a price-to-earnings ratio of -22.24 and a beta of 0.47. The firm’s fifty day moving average price is $3.50 and its two-hundred day moving average price is $3.61. Rocket Pharmaceuticals has a 1 year low of $2.53 and a 1 year high of $5.45.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Monday, August 10th. The biotechnology company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.86 by $0.22. During the same quarter in the previous year, the company posted ($0.62) earnings per share. As a group, analysts anticipate that Rocket Pharmaceuticals will post -1.39 earnings per share for the current fiscal year.

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.