Rocket Pharmaceuticals’ (RCKT) Buy Rating Reaffirmed at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research report sent to investors on Friday, Benzinga reports. Chardan Capital currently has a $62.00 price target on the biotechnology company’s stock.

Several other research firms also recently weighed in on RCKT. UBS Group decreased their price target on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a buy rating on the stock in a research report on Friday, March 1st. Needham & Company LLC decreased their price target on shares of Rocket Pharmaceuticals from $53.00 to $52.00 and set a buy rating on the stock in a research report on Friday. William Blair restated an outperform rating on shares of Rocket Pharmaceuticals in a research report on Monday, June 3rd. Finally, The Goldman Sachs Group assumed coverage on shares of Rocket Pharmaceuticals in a research report on Tuesday, April 2nd. They set a neutral rating and a $39.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $52.13.

Rocket Pharmaceuticals Trading Up 0.5 %

Shares of RCKT stock opened at $21.53 on Friday. Rocket Pharmaceuticals has a 12-month low of $14.89 and a 12-month high of $32.53. The company has a current ratio of 10.47, a quick ratio of 10.47 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $22.39 and its 200 day moving average is $26.00. The stock has a market capitalization of $1.95 billion, a P/E ratio of -7.50 and a beta of 1.08.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings results on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.67) by $0.01. During the same quarter in the prior year, the company earned ($0.73) earnings per share. Research analysts expect that Rocket Pharmaceuticals will post -2.85 earnings per share for the current year.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, Director David P. Southwell sold 10,000 shares of Rocket Pharmaceuticals stock in a transaction on Monday, April 15th. The shares were sold at an average price of $24.05, for a total value of $240,500.00. Following the completion of the transaction, the director now directly owns 114,784 shares of the company’s stock, valued at approximately $2,760,555.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Rocket Pharmaceuticals news, insider John Militello sold 1,079 shares of Rocket Pharmaceuticals stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $23.35, for a total value of $25,194.65. Following the completion of the transaction, the insider now directly owns 53,327 shares of the company’s stock, valued at approximately $1,245,185.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David P. Southwell sold 10,000 shares of Rocket Pharmaceuticals stock in a transaction on Monday, April 15th. The stock was sold at an average price of $24.05, for a total transaction of $240,500.00. Following the completion of the transaction, the director now directly owns 114,784 shares of the company’s stock, valued at $2,760,555.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 105,282 shares of company stock worth $2,551,801. Insiders own 31.10% of the company’s stock.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in RCKT. Wellington Management Group LLP boosted its stake in shares of Rocket Pharmaceuticals by 2.2% during 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 period. Vanguard Group Inc. boosted its stake in shares of Rocket Pharmaceuticals by 18.3% during the 4th quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock worth $163,264,000 after purchasing an additional 843,552 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of Rocket Pharmaceuticals by 1.1% during the 1st quarter. Westfield Capital Management Co. LP now owns 3,984,030 shares of the biotechnology company’s stock worth $107,330,000 after purchasing an additional 42,171 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Rocket Pharmaceuticals by 11.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock worth $79,290,000 after purchasing an additional 314,086 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Rocket Pharmaceuticals by 174.3% during the 1st quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock worth $70,170,000 after purchasing an additional 1,656,111 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.

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.