Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT – Get Free Report) have received a consensus rating of “Hold” from the seventeen research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $18.60.
RCKT has been the topic of a number of recent analyst reports. Canaccord Genuity Group reduced their price objective on shares of Rocket Pharmaceuticals from $34.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, June 3rd. UBS Group reduced their target price on shares of Rocket Pharmaceuticals from $12.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, June 17th. BMO Capital Markets reduced their target price on shares of Rocket Pharmaceuticals from $30.00 to $8.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 28th. Evercore ISI lowered shares of Rocket Pharmaceuticals from an “outperform” rating to an “in-line” rating and set a $5.00 target price on the stock. in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 28th.
View Our Latest Report on RCKT
Rocket Pharmaceuticals Stock Performance
Rocket Pharmaceuticals (NASDAQ:RCKT – Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.02. During the same quarter in the previous year, the business earned ($0.66) earnings per share. Research analysts forecast that Rocket Pharmaceuticals will post -2.83 EPS for the current year.
Insider Transactions at Rocket Pharmaceuticals
In other Rocket Pharmaceuticals news, insider Kinnari Patel bought 21,099 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The stock was bought at an average cost of $4.70 per share, for a total transaction of $99,165.30. Following the completion of the transaction, the insider now directly owns 26,774 shares of the company’s stock, valued at approximately $125,837.80. This trade represents a 371.79% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Aaron Ondrey sold 7,489 shares of the business’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $5.29, for a total transaction of $39,616.81. Following the transaction, the chief financial officer now owns 129,650 shares of the company’s stock, valued at $685,848.50. This represents a 5.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 24.76% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Rocket Pharmaceuticals by 24.5% during the fourth quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company’s stock worth $175,919,000 after purchasing an additional 2,753,033 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Rocket Pharmaceuticals by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,617,784 shares of the biotechnology company’s stock valued at $44,141,000 after purchasing an additional 40,189 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Rocket Pharmaceuticals by 2.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 4,820,701 shares of the biotechnology company’s stock valued at $32,154,000 after purchasing an additional 106,091 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Rocket Pharmaceuticals by 111.0% in the 4th quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company’s stock worth $50,343,000 after acquiring an additional 2,106,699 shares during the last quarter. Finally, Suvretta Capital Management LLC purchased a new position in shares of Rocket Pharmaceuticals during the 4th quarter worth approximately $32,267,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.
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.
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