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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has received a consensus rating of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $52.13.

RCKT has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, February 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th. StockNews.com upgraded shares of Rocket Pharmaceuticals to a “sell” rating in a report on Friday, February 9th. Needham & Company LLC reissued a “buy” rating and issued a $53.00 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group began coverage on shares of Rocket Pharmaceuticals in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 target price on the stock.

Insider Transactions at Rocket Pharmaceuticals

In related news, Director Gotham Makker sold 274,000 shares of Rocket Pharmaceuticals stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $28.43, for a total value of $7,789,820.00. Following the transaction, the director now owns 365,912 shares in the company, valued at $10,402,878.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gotham Makker sold 274,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $28.43, for a total transaction of $7,789,820.00. Following the completion of the sale, the director now owns 365,912 shares of the company’s stock, valued at approximately $10,402,878.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David P. Southwell sold 70,000 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $24.36, for a total transaction of $1,705,200.00. Following the transaction, the director now directly owns 95,160 shares in the company, valued at $2,318,097.60. The disclosure for this sale can be found here. Insiders sold a total of 414,935 shares of company stock worth $11,476,424 in the last ninety days. Insiders own 31.10% of the company’s stock.

Institutional Trading of Rocket Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in shares of Rocket Pharmaceuticals by 56.0% in the third quarter. Wellington Management Group LLP now owns 8,022,830 shares of the biotechnology company’s stock worth $164,388,000 after buying an additional 2,880,373 shares during the period. Vanguard Group Inc. boosted its holdings in Rocket Pharmaceuticals by 18.3% in the 4th quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock worth $163,264,000 after acquiring an additional 843,552 shares during the period. Westfield Capital Management Co. LP boosted its holdings in Rocket Pharmaceuticals by 14.7% in the 3rd quarter. Westfield Capital Management Co. LP now owns 4,193,996 shares of the biotechnology company’s stock worth $85,935,000 after acquiring an additional 538,209 shares during the period. Assenagon Asset Management S.A. grew its position in Rocket Pharmaceuticals by 105.1% in the third quarter. Assenagon Asset Management S.A. now owns 877,140 shares of the biotechnology company’s stock valued at $17,973,000 after acquiring an additional 449,569 shares in the last quarter. Finally, Comerica Bank purchased a new stake in shares of Rocket Pharmaceuticals during the third quarter valued at approximately $9,017,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Price Performance

Rocket Pharmaceuticals stock opened at $21.85 on Tuesday. Rocket Pharmaceuticals has a 52 week low of $14.89 and a 52 week high of $32.53. The firm’s 50-day simple moving average is $26.54 and its 200 day simple moving average is $25.53. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings results on Monday, February 26th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.14. During the same quarter in the previous year, the company posted ($0.92) earnings per share. On average, equities analysts predict that Rocket Pharmaceuticals will post -2.94 EPS for the current 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.