Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Rating Upgraded by Wall Street Zen

Rocket Pharmaceuticals (NASDAQ:RCKT) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other analysts have also weighed in on the stock. Weiss Ratings lowered shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. Lifesci Capital raised Rocket Pharmaceuticals to a “strong-buy” rating in a report on Thursday, February 26th. Bank of America upped their target price on Rocket Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, March 30th. The Goldman Sachs Group increased their price target on Rocket Pharmaceuticals to $3.00 and gave the company a “sell” rating in a research note on Monday, March 2nd. Finally, Cantor Fitzgerald lifted their price target on Rocket Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.54.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $3.25 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.12 and a current ratio of 6.12. Rocket Pharmaceuticals has a 1 year low of $2.19 and a 1 year high of $6.89. The stock has a fifty day moving average of $3.94 and a two-hundred day moving average of $3.67. The firm has a market capitalization of $354.87 million, a PE ratio of -1.74 and a beta of 0.52.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results 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 quarter in the prior year, the business earned ($0.56) earnings per share. As a group, research analysts expect that Rocket Pharmaceuticals will post -1.24 EPS for the current year.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, insider Sarbani Chaudhuri sold 17,650 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $3.84, for a total transaction of $67,776.00. Following the sale, the insider owned 267,510 shares in the company, valued at $1,027,238.40. The trade was a 6.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 25,751 shares of company stock valued at $96,708 over the last quarter. Company insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCKT. JPMorgan Chase & Co. boosted its position in shares of Rocket Pharmaceuticals by 73.6% in the third quarter. JPMorgan Chase & Co. now owns 2,097,033 shares of the biotechnology company’s stock worth $6,836,000 after buying an additional 889,231 shares during the period. Monaco Asset Management SAM raised its position in Rocket Pharmaceuticals by 538.8% during the third quarter. Monaco Asset Management SAM now owns 2,892,261 shares of the biotechnology company’s stock valued at $9,429,000 after buying an additional 2,439,494 shares during the period. GSA Capital Partners LLP lifted its stake in Rocket Pharmaceuticals by 502.3% in the 3rd quarter. GSA Capital Partners LLP now owns 224,276 shares of the biotechnology company’s stock worth $731,000 after acquiring an additional 187,037 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Rocket Pharmaceuticals by 13.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 175,703 shares of the biotechnology company’s stock worth $430,000 after acquiring an additional 21,016 shares in the last quarter. Finally, Nebula Research & Development LLC acquired a new stake in Rocket Pharmaceuticals during the 2nd quarter worth about $247,000. 98.39% of the stock is currently owned by hedge funds and other 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.