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

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $47.27.

Several research firms have issued reports on RCKT. Leerink Partners dropped their price objective on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Wedbush initiated coverage on shares of Rocket Pharmaceuticals in a research report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price objective for the company. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $39.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th.

Rocket Pharmaceuticals Price Performance

Shares of RCKT stock opened at $10.47 on Monday. Rocket Pharmaceuticals has a 12 month low of $9.33 and a 12 month high of $31.47. 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 stock has a 50 day moving average of $11.34 and a two-hundred day moving average of $15.33. The company has a market capitalization of $954.45 million, a P/E ratio of -3.81 and a beta of 0.98.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah sold 11,091 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $13.05, for a total value of $144,737.55. Following the transaction, the chief executive officer now directly owns 707,328 shares in the company, valued at $9,230,630.40. This trade represents a 1.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 14,386 shares of company stock worth $185,345. Insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its position in shares of Rocket Pharmaceuticals by 796.2% during the 4th quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company’s stock worth $690,000 after buying an additional 48,793 shares during the period. Jennison Associates LLC boosted its stake in Rocket Pharmaceuticals by 72.6% during the 4th quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company’s stock worth $884,000 after acquiring an additional 29,564 shares during the last quarter. Mirador Capital Partners LP grew its holdings in Rocket Pharmaceuticals by 403.9% during the fourth quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company’s stock valued at $1,063,000 after purchasing an additional 67,755 shares during the period. First Turn Management LLC increased its stake in Rocket Pharmaceuticals by 10.8% in the third quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock valued at $11,476,000 after purchasing an additional 60,317 shares in the last quarter. Finally, Sovran Advisors LLC acquired a new stake in Rocket Pharmaceuticals in the fourth quarter worth $1,895,000. Institutional investors 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.