Rocket Pharmaceuticals (NASDAQ:RCKT) Shares Up 7.3%

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKTGet Rating)’s stock price shot up 7.3% during mid-day trading on Friday . The company traded as high as $10.54 and last traded at $10.52. 12,344 shares traded hands during trading, a decline of 99% from the average session volume of 937,524 shares. The stock had previously closed at $9.80.

A number of brokerages have issued reports on RCKT. Stifel Nicolaus increased their target price on shares of Rocket Pharmaceuticals from $63.00 to $67.00 in a research report on Thursday, May 19th. SVB Leerink increased their target price on shares of Rocket Pharmaceuticals from $64.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, May 20th. William Blair restated an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Thursday, May 5th. StockNews.com started coverage on shares of Rocket Pharmaceuticals in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Finally, Chardan Capital increased their price target on shares of Rocket Pharmaceuticals from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, May 19th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $64.25.

The company has a debt-to-equity ratio of 0.05, a current ratio of 15.68 and a quick ratio of 15.68. The stock has a market cap of $727.53 million, a price-to-earnings ratio of -3.96 and a beta of 1.91. The business’s 50-day simple moving average is $11.35 and its two-hundred day simple moving average is $16.18.

Rocket Pharmaceuticals (NASDAQ:RCKTGet Rating) last issued its earnings results on Thursday, May 5th. The biotechnology company reported ($0.67) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.03. During the same quarter last year, the business posted ($0.65) earnings per share. Equities research analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.7 earnings per share for the current year.

In other news, insider Jonathan David Schwartz sold 45,000 shares of the firm’s stock in a transaction on Wednesday, March 30th. The shares were sold at an average price of $16.41, for a total transaction of $738,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 36.50% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in Rocket Pharmaceuticals by 133.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,551,774 shares of the biotechnology company’s stock worth $24,612,000 after buying an additional 886,919 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Rocket Pharmaceuticals by 145.9% during the first quarter. Assenagon Asset Management S.A. now owns 1,320,561 shares of the biotechnology company’s stock worth $20,944,000 after buying an additional 783,621 shares during the last quarter. M28 Capital Management LP bought a new position in Rocket Pharmaceuticals during the fourth quarter worth $10,812,000. Norges Bank bought a new position in Rocket Pharmaceuticals during the fourth quarter worth $10,539,000. Finally, Federated Hermes Inc. bought a new position in Rocket Pharmaceuticals during the first quarter worth $6,786,000.

Rocket Pharmaceuticals Company Profile (NASDAQ:RCKT)

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform 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.

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