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

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $52.29.

A number of analysts have commented on RCKT shares. Chardan Capital restated a “buy” rating and set a $62.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. JPMorgan Chase & Co. raised their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, September 17th. Finally, William Blair reissued an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Monday, June 3rd.

Insider Activity

In related news, insider Mark Andrew White sold 3,026 shares of Rocket Pharmaceuticals stock in a transaction on Monday, July 8th. The stock was sold at an average price of $20.39, for a total transaction of $61,700.14. Following the sale, the insider now directly owns 72,220 shares in the company, valued at $1,472,565.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 31.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in RCKT. Dana Investment Advisors Inc. grew its position in shares of Rocket Pharmaceuticals by 4.4% during the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after acquiring an additional 586 shares during the period. Novo Holdings A S grew its holdings in Rocket Pharmaceuticals by 4.8% during the second quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock valued at $23,683,000 after purchasing an additional 50,000 shares during the period. The Manufacturers Life Insurance Company increased its position in Rocket Pharmaceuticals by 23.5% in the second quarter. The Manufacturers Life Insurance Company now owns 139,613 shares of the biotechnology company’s stock worth $3,006,000 after buying an additional 26,556 shares during the last quarter. Maverick Capital Ltd. increased its position in Rocket Pharmaceuticals by 1.0% in the second quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company’s stock worth $84,577,000 after buying an additional 40,000 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Rocket Pharmaceuticals in the second quarter valued at $422,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

Shares of Rocket Pharmaceuticals stock opened at $17.60 on Friday. The business has a 50-day simple moving average of $20.24 and a 200 day simple moving average of $22.29. Rocket Pharmaceuticals has a one year low of $16.55 and a one year high of $32.53. 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 firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -6.13 and a beta of 1.09.

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

Rocket Pharmaceuticals Company Profile

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.