Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been given an average rating of “Moderate Buy” by the ten brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $51.75.

Several brokerages have recently commented on RCKT. Chardan Capital reaffirmed a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, September 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Scotiabank started coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC increased its position in Rocket Pharmaceuticals by 174.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock worth $70,170,000 after purchasing an additional 1,656,111 shares during the last quarter. Vanguard Group Inc. increased its holdings in Rocket Pharmaceuticals by 18.3% in the fourth quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock worth $163,264,000 after buying an additional 843,552 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Rocket Pharmaceuticals by 11.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock valued at $79,290,000 after acquiring an additional 314,086 shares in the last quarter. First Turn Management LLC lifted its stake in Rocket Pharmaceuticals by 123.6% in the second quarter. First Turn Management LLC now owns 560,989 shares of the biotechnology company’s stock valued at $12,078,000 after acquiring an additional 310,119 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Rocket Pharmaceuticals by 2.2% in the fourth quarter. Wellington Management Group LLP now owns 8,197,546 shares of the biotechnology company’s stock worth $245,680,000 after acquiring an additional 174,716 shares in the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Stock Performance

RCKT opened at $17.62 on Tuesday. The business has a 50 day moving average price of $18.52 and a two-hundred day moving average price of $21.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 7.79 and a quick ratio of 7.79. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -6.14 and a beta of 1.09. Rocket Pharmaceuticals has a 1-year low of $15.98 and a 1-year high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.02). During the same quarter in the prior year, the company posted ($0.82) EPS. Research analysts predict that Rocket Pharmaceuticals will post -2.97 EPS for the current fiscal year.

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.