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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has received a consensus rating of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $52.29.

RCKT has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday. Canaccord Genuity Group reduced their price objective on shares of Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. lifted their target price on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Finally, William Blair restated an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Monday, June 3rd.

Rocket Pharmaceuticals Stock Up 2.5 %

RCKT opened at $21.36 on Friday. The firm’s 50 day simple moving average is $20.66 and its two-hundred day simple moving average is $22.60. The company has a market capitalization of $1.94 billion, a PE ratio of -7.44 and a beta of 1.10. Rocket Pharmaceuticals has a 1-year low of $16.55 and a 1-year high of $32.53. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.05.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Monday, August 5th. The biotechnology company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). During the same period in the prior year, the company earned ($0.82) earnings per share. As a group, equities analysts forecast that Rocket Pharmaceuticals will post -2.97 EPS for the current year.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, insider Mark Andrew White sold 3,026 shares of Rocket Pharmaceuticals stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $20.39, for a total value of $61,700.14. Following the sale, the insider now directly owns 72,220 shares of the company’s stock, valued at $1,472,565.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 31.10% of the company’s stock.

Institutional Trading of Rocket Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of Rocket Pharmaceuticals by 31.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after buying an additional 764 shares during the last quarter. Old Well Partners LLC bought a new stake in Rocket Pharmaceuticals during the fourth quarter worth approximately $200,000. Capstone Investment Advisors LLC purchased a new stake in Rocket Pharmaceuticals during the fourth quarter valued at approximately $217,000. Dana Investment Advisors Inc. raised its position in Rocket Pharmaceuticals by 4.4% during the second quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after purchasing an additional 586 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Rocket Pharmaceuticals in the 4th quarter worth approximately $332,000. 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.