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

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $47.27.

RCKT has been the topic of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Chardan Capital reissued a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Leerink Partners lowered their price target on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Canaccord Genuity Group reissued a “buy” rating and set a $39.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Wedbush initiated coverage on shares of Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an “outperform” rating and a $32.00 target price for the company.

Insider Transactions at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah sold 11,091 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $13.05, for a total value of $144,737.55. Following the transaction, the chief executive officer now owns 707,328 shares in the company, valued at $9,230,630.40. This represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 13,490 shares of company stock worth $176,045 in the last ninety days. Insiders own 28.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in Rocket Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 582 shares during the period. Dana Investment Advisors Inc. raised its stake in shares of Rocket Pharmaceuticals by 4.4% in the second quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock worth $298,000 after buying an additional 586 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Rocket Pharmaceuticals by 1.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,633 shares of the biotechnology company’s stock valued at $2,210,000 after buying an additional 1,561 shares in the last quarter. Pier 88 Investment Partners LLC grew its stake in shares of Rocket Pharmaceuticals by 5.1% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 32,490 shares of the biotechnology company’s stock valued at $600,000 after acquiring an additional 1,590 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Rocket Pharmaceuticals by 9.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,767 shares of the biotechnology company’s stock worth $347,000 after acquiring an additional 1,675 shares in the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

Shares of Rocket Pharmaceuticals stock opened at $10.48 on Thursday. Rocket Pharmaceuticals has a 12 month low of $10.07 and a 12 month high of $31.47. The firm has a market capitalization of $955.36 million, a P/E ratio of -3.81 and a beta of 1.01. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $12.46 and a two-hundred day simple moving average of $16.92.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.07. On average, equities analysts forecast that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

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.