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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has earned a consensus rating of “Hold” from the twelve brokerages that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $8.8750.

RCKT has been the topic of a number of research analyst reports. Bank of America boosted their price target on Rocket Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, March 30th. Wall Street Zen upgraded shares of Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Finally, Chardan Capital reissued a “buy” rating and set a $11.00 target price on shares of Rocket Pharmaceuticals in a research report on Monday, May 11th.

Insider Buying and Selling at Rocket Pharmaceuticals

In related news, insider Sarbani Chaudhuri sold 17,650 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $3.84, for a total value of $67,776.00. Following the transaction, the insider directly owned 267,510 shares of the company’s stock, valued at $1,027,238.40. This represents a 6.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gaurav Shah sold 55,684 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $3.09, for a total value of $172,063.56. Following the completion of the transaction, the chief executive officer owned 1,061,724 shares of the company’s stock, valued at $3,280,727.16. This trade represents a 4.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 83,733 shares of company stock valued at $275,307 over the last quarter. Insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Barclays PLC raised its stake in shares of Rocket Pharmaceuticals by 2.4% in the fourth quarter. Barclays PLC now owns 153,049 shares of the biotechnology company’s stock worth $537,000 after purchasing an additional 3,656 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Rocket Pharmaceuticals by 1.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 309,247 shares of the biotechnology company’s stock worth $1,085,000 after purchasing an additional 3,809 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in 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 buying an additional 5,926 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Rocket Pharmaceuticals by 63.5% in the fourth quarter. Sanctuary Advisors LLC now owns 17,437 shares of the biotechnology company’s stock valued at $61,000 after buying an additional 6,769 shares during the last quarter. Finally, Rice Hall James & Associates LLC increased its holdings in Rocket Pharmaceuticals by 8.1% in the 1st quarter. Rice Hall James & Associates LLC now owns 91,887 shares of the biotechnology company’s stock worth $329,000 after buying an additional 6,900 shares during the period. 98.39% of the stock is owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Stock Up 2.9%

Shares of RCKT stock opened at $3.52 on Thursday. The stock’s fifty day moving average price is $3.22 and its 200 day moving average price is $3.61. Rocket Pharmaceuticals has a 1-year low of $2.53 and a 1-year high of $5.45. The company has a market cap of $384.35 million, a price-to-earnings ratio of -1.88 and a beta of 0.44. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.12 and a quick ratio of 6.12.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released 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 firm posted ($0.56) earnings per share. On average, research analysts expect that Rocket Pharmaceuticals will post -1.16 earnings per share for the current fiscal year.

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.