Rocket Pharmaceuticals (NASDAQ:RCKT) Raised to “Hold” at Wall Street Zen

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

A number of other analysts have also commented on the stock. Morgan Stanley set a $5.00 target price on shares of Rocket Pharmaceuticals in a report on Thursday, January 8th. JPMorgan Chase & Co. cut Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a research note on Tuesday, November 18th. Wedbush reiterated an “outperform” rating and issued a $16.00 price objective on shares of Rocket Pharmaceuticals in a report on Friday, November 7th. Cantor Fitzgerald raised their target price on Rocket Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Bank of America decreased their target price on Rocket Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Eight analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Rocket Pharmaceuticals has an average rating of “Hold” and a consensus target price of $14.50.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ:RCKT opened at $5.01 on Friday. The company has a current ratio of 7.30, a quick ratio of 7.30 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals has a 1-year low of $2.19 and a 1-year high of $9.73. The stock has a market capitalization of $542.18 million, a P/E ratio of -2.49 and a beta of 0.48. The business has a 50-day moving average price of $3.62 and a two-hundred day moving average price of $3.44.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly 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 quarter last year, the firm posted ($0.62) EPS. Equities analysts predict that Rocket Pharmaceuticals will post -2.83 earnings per share for the current year.

Insider Activity

In other news, CEO Gaurav Shah sold 12,279 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $3.31, for a total transaction of $40,643.49. Following the sale, the chief executive officer owned 1,052,045 shares of the company’s stock, valued at $3,482,268.95. This trade represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Martin Wilson sold 12,253 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $3.31, for a total value of $40,557.43. Following the completion of the transaction, the general counsel owned 683,376 shares of the company’s stock, valued at $2,261,974.56. This represents a 1.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,415 shares of company stock valued at $97,398 over the last 90 days. Corporate insiders own 24.76% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Prudential Financial Inc. bought a new stake in Rocket Pharmaceuticals in the 2nd quarter valued at $25,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Rocket Pharmaceuticals by 94.4% in the second quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 5,926 shares in the last quarter. Corton Capital Inc. bought a new stake in shares of Rocket Pharmaceuticals in the second quarter valued at about $38,000. Franklin Resources Inc. acquired a new position in shares of Rocket Pharmaceuticals during the fourth quarter worth about $38,000. Finally, Virtu Financial LLC bought a new position in shares of Rocket Pharmaceuticals during the third quarter worth about $40,000. Institutional investors own 98.39% of the company’s stock.

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.