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

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have earned an average rating of “Hold” from the eighteen research firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $14.3571.

A number of research firms recently commented on RCKT. Wedbush restated an “outperform” rating and set a $16.00 price target on shares of Rocket Pharmaceuticals in a research report on Friday, November 7th. JPMorgan Chase & Co. cut Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a report on Tuesday, November 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 8th. Chardan Capital reiterated a “buy” rating and set a $11.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, October 14th. Finally, Bank of America decreased their price objective on shares of Rocket Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th.

Rocket Pharmaceuticals Stock Down 3.5%

Shares of NASDAQ:RCKT opened at $3.60 on Thursday. The company has a market capitalization of $389.59 million, a PE ratio of -1.60 and a beta of 0.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.30 and a current ratio of 7.30. The company’s fifty day moving average is $3.34 and its 200-day moving average is $3.30. Rocket Pharmaceuticals has a 52 week low of $2.19 and a 52 week high of $11.45.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.03. During the same quarter in the prior year, the company earned ($0.71) EPS. Equities research analysts predict that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Maverick Capital Ltd. boosted its position in Rocket Pharmaceuticals by 60.9% in the 2nd quarter. Maverick Capital Ltd. now owns 8,363,813 shares of the biotechnology company’s stock valued at $20,491,000 after buying an additional 3,164,595 shares during the last quarter. Monaco Asset Management SAM increased its position in Rocket Pharmaceuticals by 538.8% in the third quarter. Monaco Asset Management SAM now owns 2,892,261 shares of the biotechnology company’s stock worth $9,429,000 after purchasing an additional 2,439,494 shares during the period. MPM Bioimpact LLC increased its position in Rocket Pharmaceuticals by 141.2% in the second quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock worth $9,563,000 after purchasing an additional 2,284,816 shares during the period. Qube Research & Technologies Ltd raised its holdings in Rocket Pharmaceuticals by 690.8% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,548,262 shares of the biotechnology company’s stock worth $3,793,000 after purchasing an additional 1,352,469 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Rocket Pharmaceuticals by 52.0% during the 3rd quarter. Millennium Management LLC now owns 3,570,391 shares of the biotechnology company’s stock valued at $11,639,000 after purchasing an additional 1,221,554 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

About Rocket Pharmaceuticals

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.