Stifel Nicolaus reaffirmed their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT – Free Report) in a report published on Wednesday morning, Benzinga reports. They currently have a $48.00 price objective on the biotechnology company’s stock.
Several other equities analysts have also recently issued reports on RCKT. Canaccord Genuity Group reduced their target price on Rocket Pharmaceuticals from $49.00 to $47.00 and set a buy rating on the stock in a research note on Friday, August 11th. Needham & Company LLC dropped their price target on Rocket Pharmaceuticals from $60.00 to $53.00 and set a buy rating on the stock in a research report on Wednesday. StockNews.com upgraded Rocket Pharmaceuticals to a sell rating in a research report on Monday, September 11th. Finally, Chardan Capital restated a buy rating and set a $61.00 price target on shares of Rocket Pharmaceuticals in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $49.45.
Rocket Pharmaceuticals Price Performance
Rocket Pharmaceuticals (NASDAQ:RCKT – Get Free Report) last posted its earnings results on Thursday, August 10th. The biotechnology company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.81) by ($0.01). During the same quarter in the previous year, the firm earned ($0.83) earnings per share. On average, equities research analysts predict that Rocket Pharmaceuticals will post -3.19 EPS for the current year.
Insiders Place Their Bets
In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 4,767 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $15.47, for a total value of $73,745.49. Following the sale, the chief executive officer now directly owns 524,854 shares of the company’s stock, valued at $8,119,491.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 6,874 shares of company stock valued at $108,381. 31.10% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of RCKT. Avidity Partners Management LP bought a new position in shares of Rocket Pharmaceuticals during the fourth quarter valued at $29,885,000. Maverick Capital Ltd. lifted its holdings in shares of Rocket Pharmaceuticals by 29.8% during the first quarter. Maverick Capital Ltd. now owns 4,407,623 shares of the biotechnology company’s stock valued at $75,503,000 after purchasing an additional 1,011,805 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of 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 valued at $24,612,000 after purchasing an additional 886,919 shares in the last quarter. State Street Corp lifted its holdings in shares of Rocket Pharmaceuticals by 33.8% during the third quarter. State Street Corp now owns 3,392,333 shares of the biotechnology company’s stock valued at $54,142,000 after purchasing an additional 856,076 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Rocket Pharmaceuticals by 17.1% during the first quarter. Wellington Management Group LLP now owns 4,107,928 shares of the biotechnology company’s stock valued at $70,369,000 after purchasing an additional 600,911 shares in the last quarter. 94.49% of the stock is owned by institutional investors.
About Rocket Pharmaceuticals
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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