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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $51.00.

Several equities research analysts have issued reports on RCKT shares. JPMorgan Chase & Co. raised their price objective on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Chardan Capital reiterated a “buy” rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. Canaccord Genuity Group reiterated a “buy” rating and issued a $39.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Scotiabank began coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th.

Rocket Pharmaceuticals Trading Down 6.3 %

Shares of NASDAQ:RCKT opened at $13.50 on Wednesday. Rocket Pharmaceuticals has a 52-week low of $12.62 and a 52-week high of $32.53. The company has a market capitalization of $1.23 billion, a P/E ratio of -4.91 and a beta of 1.01. The company has a 50-day simple moving average of $16.39 and a 200 day simple moving average of $19.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05.

Insider Activity at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $13.05, for a total transaction of $144,737.55. Following the sale, the chief executive officer now owns 707,328 shares of the company’s stock, valued at approximately $9,230,630.40. The trade was a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 13,490 shares of company stock valued at $176,045 over the last three months. 28.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in shares of Rocket Pharmaceuticals by 22.8% during the third quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock worth $207,642,000 after purchasing an additional 2,086,424 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of Rocket Pharmaceuticals by 3.8% during the third quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock worth $83,001,000 after purchasing an additional 165,911 shares during the period. Maverick Capital Ltd. lifted its holdings in Rocket Pharmaceuticals by 4.8% in the third quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock valued at $76,072,000 after buying an additional 190,360 shares during the period. State Street Corp lifted its holdings in Rocket Pharmaceuticals by 11.6% in the third quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after buying an additional 322,156 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Rocket Pharmaceuticals by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock valued at $29,888,000 after buying an additional 14,256 shares during the period. 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.