Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $52.13.

Several analysts have recently issued reports on RCKT shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, February 27th. Lifesci Capital reaffirmed an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Tuesday, December 26th. StockNews.com raised shares of Rocket Pharmaceuticals to a “sell” rating in a research note on Friday, February 9th. Needham & Company LLC reissued a “buy” rating and issued a $53.00 price target on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group assumed coverage on shares of Rocket Pharmaceuticals in a research note on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 price objective for the company.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $23.87 on Tuesday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of -8.12 and a beta of 1.07. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.80 and a current ratio of 7.80. Rocket Pharmaceuticals has a 52 week low of $14.89 and a 52 week high of $32.53. The firm’s 50-day simple moving average is $27.08 and its two-hundred day simple moving average is $25.41.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Monday, February 26th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.14. During the same quarter in the prior year, the business posted ($0.92) earnings per share. As a group, equities analysts forecast that Rocket Pharmaceuticals will post -2.94 earnings per share for the current year.

Insider Buying and Selling

In related news, Director David P. Southwell sold 70,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $24.36, for a total value of $1,705,200.00. Following the sale, the director now directly owns 95,160 shares of the company’s stock, valued at $2,318,097.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rocket Pharmaceuticals news, Director David P. Southwell sold 70,000 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $24.36, for a total transaction of $1,705,200.00. Following the sale, the director now directly owns 95,160 shares of the company’s stock, valued at approximately $2,318,097.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David P. Southwell sold 10,000 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $24.05, for a total value of $240,500.00. Following the sale, the director now directly owns 114,784 shares in the company, valued at $2,760,555.20. The disclosure for this sale can be found here. Insiders have sold 414,102 shares of company stock valued at $11,457,374 over the last ninety days. 31.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Amalgamated Bank lifted its holdings in shares of Rocket Pharmaceuticals by 5.4% during the fourth quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock valued at $259,000 after purchasing an additional 440 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Rocket Pharmaceuticals by 14.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company’s stock worth $105,000 after acquiring an additional 633 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Rocket Pharmaceuticals by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 17,963 shares of the biotechnology company’s stock worth $538,000 after acquiring an additional 661 shares during the last quarter. Torray Investment Partners LLC raised its stake in Rocket Pharmaceuticals by 1.1% during the 4th quarter. Torray Investment Partners LLC now owns 60,856 shares of the biotechnology company’s stock valued at $1,824,000 after buying an additional 679 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Rocket Pharmaceuticals by 5.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 15,955 shares of the biotechnology company’s stock valued at $327,000 after buying an additional 875 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

About Rocket Pharmaceuticals

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.