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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $43.00.

RCKT has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 target price for the company. Leerink Partners decreased their price target on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Canaccord Genuity Group decreased their price target on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Chardan Capital decreased their price target on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Needham & Company LLC decreased their price target on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 28th.

Rocket Pharmaceuticals Trading Down 5.4 %

Shares of Rocket Pharmaceuticals stock opened at $8.35 on Friday. The company has a fifty day simple moving average of $10.06 and a 200-day simple moving average of $13.79. Rocket Pharmaceuticals has a 12-month low of $8.06 and a 12-month high of $28.67. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The stock has a market cap of $890.36 million, a price-to-earnings ratio of -3.04 and a beta of 1.03.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.06. On average, equities analysts forecast that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Large investors have recently bought and sold shares of the company. Covestor Ltd increased its holdings in shares of Rocket Pharmaceuticals by 33,166.7% in the 4th quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 1,990 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Rocket Pharmaceuticals by 319.8% in the 4th quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock valued at $62,000 after purchasing an additional 3,745 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Rocket Pharmaceuticals by 51.9% in the 4th quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 1,840 shares in the last quarter. KBC Group NV increased its holdings in shares of Rocket Pharmaceuticals by 159.6% in the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 3,366 shares in the last quarter. Finally, Virtus ETF Advisers LLC increased its holdings in shares of Rocket Pharmaceuticals by 40.4% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 1,628 shares in the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

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.