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

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have been given a consensus rating of “Buy” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have covered the stock in the last year is $54.00.

RCKT has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $53.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, February 13th. Lifesci Capital reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, December 26th. UBS Group decreased their price objective on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, March 1st. StockNews.com raised Rocket Pharmaceuticals to a “sell” rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. lowered their price target on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, February 27th.

Insider Buying and Selling

In other Rocket Pharmaceuticals news, insider Kinnari Patel sold 7,132 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $29.84, for a total value of $212,818.88. Following the sale, the insider now owns 238,346 shares of the company’s stock, valued at approximately $7,112,244.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Rocket Pharmaceuticals news, insider Kinnari Patel sold 7,132 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $29.84, for a total value of $212,818.88. Following the sale, the insider now directly owns 238,346 shares of the company’s stock, valued at approximately $7,112,244.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John Militello sold 2,490 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $28.10, for a total transaction of $69,969.00. Following the completion of the sale, the insider now owns 55,239 shares in the company, valued at $1,552,215.90. The disclosure for this sale can be found here. Insiders sold 322,208 shares of company stock valued at $9,220,239 in the last three months. 31.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in shares of Rocket Pharmaceuticals by 56.0% during the 3rd quarter. Wellington Management Group LLP now owns 8,022,830 shares of the biotechnology company’s stock worth $164,388,000 after buying an additional 2,880,373 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Rocket Pharmaceuticals by 133.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,551,774 shares of the biotechnology company’s stock worth $24,612,000 after purchasing an additional 886,919 shares during the last quarter. Maverick Capital Ltd. lifted its stake in Rocket Pharmaceuticals by 34.1% in the 4th quarter. Maverick Capital Ltd. now owns 3,395,818 shares of the biotechnology company’s stock valued at $66,456,000 after buying an additional 863,452 shares in the last quarter. State Street Corp grew its holdings in Rocket Pharmaceuticals by 33.8% during the 3rd quarter. State Street Corp now owns 3,392,333 shares of the biotechnology company’s stock valued at $54,142,000 after buying an additional 856,076 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Rocket Pharmaceuticals by 18.3% during the fourth quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock worth $163,264,000 after buying an additional 843,552 shares in the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Trading Down 1.1 %

Shares of RCKT opened at $26.94 on Friday. Rocket Pharmaceuticals has a 12-month low of $14.89 and a 12-month high of $32.53. The firm has a market capitalization of $2.44 billion, a P/E ratio of -9.16 and a beta of 1.08. The firm has a 50-day moving average price of $28.41 and a 200 day moving average price of $24.83. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Monday, February 26th. The biotechnology company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.14. During the same quarter in the previous year, the firm posted ($0.92) earnings per share. Sell-side analysts forecast that Rocket Pharmaceuticals will post -2.94 EPS for the current year.

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.