Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Average Rating of “Hold” by Analysts

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has received an average recommendation of “Hold” from the eighteen research firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $11.5385.

A number of research firms have commented on RCKT. Lifesci Capital raised shares of Rocket Pharmaceuticals to a “strong-buy” rating in a report on Thursday, February 26th. Bank of America lifted their price objective on shares of Rocket Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, March 30th. Wall Street Zen raised shares of Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday. Cantor Fitzgerald raised their target price on Rocket Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Finally, The Goldman Sachs Group raised their target price on Rocket Pharmaceuticals to $3.00 and gave the company a “sell” rating in a research note on Monday, March 2nd.

Rocket Pharmaceuticals Stock Performance

Rocket Pharmaceuticals stock opened at $3.25 on Wednesday. The company has a market cap of $354.87 million, a PE ratio of -1.74 and a beta of 0.52. The company has a fifty day moving average price of $3.94 and a two-hundred day moving average price of $3.67. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.12 and a quick ratio of 6.12. Rocket Pharmaceuticals has a 12 month low of $2.19 and a 12 month high of $6.89.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). During the same period in the previous year, the business earned ($0.56) EPS. Research analysts expect that Rocket Pharmaceuticals will post -1.24 earnings per share for the current year.

Insider Transactions at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider Sarbani Chaudhuri sold 17,650 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $3.84, for a total value of $67,776.00. Following the sale, the insider directly owned 267,510 shares in the company, valued at approximately $1,027,238.40. This trade represents a 6.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 25,751 shares of company stock valued at $96,708 in the last quarter. Company insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Maverick Capital Ltd. lifted its stake in Rocket Pharmaceuticals by 42.0% in the first quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company’s stock valued at $12,771,000 after buying an additional 1,054,262 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Rocket Pharmaceuticals by 88.7% in the first quarter. Quantinno Capital Management LP now owns 76,248 shares of the biotechnology company’s stock valued at $273,000 after buying an additional 35,851 shares during the last quarter. Rice Hall James & Associates LLC lifted its stake in Rocket Pharmaceuticals by 8.1% in the first quarter. Rice Hall James & Associates LLC now owns 91,887 shares of the biotechnology company’s stock valued at $329,000 after buying an additional 6,900 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Rocket Pharmaceuticals by 51.3% in the first quarter. Renaissance Technologies LLC now owns 637,174 shares of the biotechnology company’s stock valued at $2,281,000 after buying an additional 216,000 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in Rocket Pharmaceuticals in the first quarter valued at $101,000. 98.39% of the stock is currently owned by institutional investors.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.

The company’s pipeline comprises multiple product candidates in various stages of development.