Rocket Pharmaceuticals (NASDAQ:RCKT) Coverage Initiated at The Goldman Sachs Group

Equities research analysts at The Goldman Sachs Group initiated coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKTGet Free Report) in a research report issued on Tuesday, Marketbeat.com reports. The brokerage set a “neutral” rating and a $39.00 price target on the biotechnology company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 45.96% from the stock’s previous close.

A number of other equities analysts have also recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 27th. StockNews.com raised shares of Rocket Pharmaceuticals to a “sell” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. cut their price objective on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. UBS Group cut their price objective on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Finally, Lifesci Capital reaffirmed an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Tuesday, December 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.13.

Get Our Latest Stock Report on RCKT

Rocket Pharmaceuticals Stock Performance

Rocket Pharmaceuticals stock opened at $26.72 on Tuesday. The firm’s 50 day simple moving average is $28.39 and its 200 day simple moving average is $25.03. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.42 billion, a PE ratio of -9.09 and a beta of 1.07. Rocket Pharmaceuticals has a 1-year low of $14.89 and a 1-year high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKTGet Free Report) last posted its earnings results on Monday, February 26th. The biotechnology company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.14. During the same quarter in the prior year, the business posted ($0.92) EPS. As a group, analysts expect that Rocket Pharmaceuticals will post -2.94 earnings per share for the current fiscal year.

Insider Activity at Rocket Pharmaceuticals

In related news, insider John Militello sold 2,490 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $28.10, for a total transaction of $69,969.00. Following the sale, the insider now directly owns 55,239 shares of the company’s stock, valued at approximately $1,552,215.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider John Militello sold 2,490 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $28.10, for a total transaction of $69,969.00. Following the sale, the insider now owns 55,239 shares of the company’s stock, valued at approximately $1,552,215.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gotham Makker sold 274,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $28.43, for a total transaction of $7,789,820.00. Following the sale, the director now directly owns 365,912 shares in the company, valued at approximately $10,402,878.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 322,208 shares of company stock valued at $9,220,239. 31.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Amalgamated Bank increased its position in Rocket Pharmaceuticals by 5.4% during the fourth quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock valued at $259,000 after acquiring an additional 440 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its position in Rocket Pharmaceuticals by 2.5% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 19,379 shares of the biotechnology company’s stock valued at $581,000 after acquiring an additional 475 shares during the last quarter. Metropolitan Life Insurance Co NY increased its position in Rocket Pharmaceuticals by 24.0% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,205 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 621 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Rocket Pharmaceuticals by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company’s stock valued at $105,000 after acquiring an additional 633 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Rocket Pharmaceuticals by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 17,963 shares of the biotechnology company’s stock worth $538,000 after purchasing an additional 661 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Rocket Pharmaceuticals (NASDAQ:RCKT)

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