Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives $52.13 Average PT from Analysts

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have been given a consensus rating of “Moderate Buy” by the nine analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $52.13.

A number of brokerages have recently commented on RCKT. The Goldman Sachs Group began coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 target price for the company. JPMorgan Chase & Co. reduced their target price on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $53.00 price target on shares of Rocket Pharmaceuticals in a report on Wednesday, April 10th. Finally, StockNews.com raised shares of Rocket Pharmaceuticals to a “sell” rating in a report on Friday, February 9th.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ:RCKT opened at $22.10 on Tuesday. The company has a 50-day simple moving average of $26.87 and a 200-day simple moving average of $25.43. Rocket Pharmaceuticals has a one year low of $14.89 and a one year high of $32.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.80 and a current ratio of 7.80. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -7.52 and a beta of 1.07.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Monday, February 26th. The biotechnology company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.14. During the same quarter in the previous year, the firm earned ($0.92) earnings per share. On average, analysts predict that Rocket Pharmaceuticals will post -2.94 EPS for the current year.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, Director David P. Southwell sold 10,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $24.05, for a total transaction of $240,500.00. Following the transaction, the director now directly owns 114,784 shares in the company, valued at $2,760,555.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Rocket Pharmaceuticals news, Director David P. Southwell sold 10,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $24.05, for a total transaction of $240,500.00. Following the transaction, the director now directly owns 114,784 shares in the company, valued at $2,760,555.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gaurav Shah sold 20,272 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $29.84, for a total transaction of $604,916.48. Following the transaction, the chief executive officer now owns 554,762 shares in the company, valued at $16,554,098.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 414,935 shares of company stock worth $11,476,424. 31.10% of the stock is owned by company insiders.

Institutional Trading of Rocket Pharmaceuticals

Large investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. grew its position in shares of Rocket Pharmaceuticals by 96.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,068 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 1,014 shares during the last quarter. Annandale Capital LLC acquired a new stake in shares of Rocket Pharmaceuticals in the third quarter valued at approximately $66,000. Tower Research Capital LLC TRC grew its position in shares of Rocket Pharmaceuticals by 105.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,557 shares of the biotechnology company’s stock valued at $107,000 after purchasing an additional 1,829 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Rocket Pharmaceuticals by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company’s stock valued at $105,000 after purchasing an additional 633 shares during the last quarter. Finally, Old Well Partners LLC acquired a new stake in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $200,000. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Company Profile

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.