Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Consensus Rating of “Hold” by Analysts

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been given an average recommendation of “Hold” by the ten analysts that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $8.7143.

A number of analysts recently issued reports on the company. Bank of America increased their price objective on Rocket Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, March 30th. Wall Street Zen cut Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Weiss Ratings raised shares of Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 15th. Finally, Chardan Capital restated a “buy” rating and issued a $11.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, May 11th.

Rocket Pharmaceuticals Stock Performance

NASDAQ:RCKT opened at $3.19 on Monday. The company has a market cap of $348.32 million, a P/E ratio of -1.71 and a beta of 0.45. The stock’s fifty day moving average price is $3.26 and its two-hundred day moving average price is $3.64. Rocket Pharmaceuticals has a 1 year low of $2.53 and a 1 year high of $5.45. 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 posted 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 period in the previous year, the company earned ($0.56) earnings per share. As a group, analysts expect that Rocket Pharmaceuticals will post -1.16 EPS for the current year.

Insider Activity at Rocket Pharmaceuticals

In other news, insider Sarbani Chaudhuri sold 17,650 shares of the business’s stock in a transaction 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 completion of the transaction, the insider directly owned 267,510 shares in the company, valued at $1,027,238.40. The trade was a 6.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $3.09, for a total transaction of $172,063.56. Following the completion of the transaction, the chief executive officer directly owned 1,061,724 shares in the company, valued at approximately $3,280,727.16. The trade was a 4.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 83,733 shares of company stock worth $275,307 over the last quarter. Corporate insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. bought a new position in Rocket Pharmaceuticals in the 2nd quarter worth about $25,000. CANADA LIFE ASSURANCE Co boosted its position in shares of Rocket Pharmaceuticals by 94.4% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 5,926 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Rocket Pharmaceuticals during the 4th quarter valued at about $38,000. Virtu Financial LLC purchased a new position in shares of Rocket Pharmaceuticals during the third quarter worth about $40,000. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Rocket Pharmaceuticals during the fourth quarter worth about $42,000. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

About Rocket Pharmaceuticals

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.