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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been given an average rating of “Hold” by the eighteen brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $13.7857.

RCKT has been the topic of a number of research analyst reports. 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. Wedbush reissued an “outperform” rating and issued a $16.00 price target on shares of Rocket Pharmaceuticals in a report on Friday, November 7th. Cantor Fitzgerald upped their price objective on Rocket Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. The Goldman Sachs Group increased their price objective on Rocket Pharmaceuticals to $3.00 and gave the company a “sell” rating in a research report on Monday. Finally, JPMorgan Chase & Co. downgraded Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a research report on Tuesday, November 18th.

Rocket Pharmaceuticals Trading Down 3.7%

RCKT stock opened at $4.64 on Friday. The business has a fifty day moving average price of $3.72 and a 200 day moving average price of $3.49. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.38 and a quick ratio of 6.38. Rocket Pharmaceuticals has a fifty-two week low of $2.19 and a fifty-two week high of $9.26. The stock has a market capitalization of $503.76 million, a price-to-earnings ratio of -2.31 and a beta of 0.39.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Thursday, February 26th. The biotechnology company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.04. During the same period in the prior year, the firm posted ($0.62) EPS. Analysts expect that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

Insider Activity

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 12,279 shares of Rocket Pharmaceuticals stock in a transaction on Friday, February 13th. The shares were sold at an average price of $3.31, for a total transaction of $40,643.49. Following the completion of the sale, the chief executive officer owned 1,052,045 shares of the company’s stock, valued at approximately $3,482,268.95. The trade was a 1.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Martin Wilson sold 12,253 shares of the company’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $3.31, for a total transaction of $40,557.43. Following the sale, the general counsel owned 683,376 shares of the company’s stock, valued at $2,261,974.56. The trade was a 1.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,415 shares of company stock worth $97,398 in the last ninety days. Insiders own 24.76% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of institutional investors have recently made changes to their positions in RCKT. Prudential Financial Inc. bought a new stake in Rocket Pharmaceuticals in the second quarter valued at about $25,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Rocket Pharmaceuticals by 94.4% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 5,926 shares during the last quarter. Corton Capital Inc. bought a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter valued at about $38,000. Franklin Resources Inc. acquired a new stake in shares of Rocket Pharmaceuticals in the 4th quarter valued at approximately $38,000. Finally, Virtu Financial LLC bought a new position in Rocket Pharmaceuticals during the 3rd quarter worth approximately $40,000. 98.39% of the stock is owned by institutional investors and hedge funds.

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.