Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have received a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $14.3571.

RCKT has been the subject of a number of research reports. JPMorgan Chase & Co. lowered shares of Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a research note on Tuesday, November 18th. Wedbush reiterated an “outperform” rating and set a $16.00 price objective on shares of Rocket Pharmaceuticals in a research note on Friday, November 7th. Chardan Capital reissued a “buy” rating and issued a $11.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, October 14th. Morgan Stanley set a $5.00 target price on Rocket Pharmaceuticals in a report on Thursday, January 8th. Finally, TD Cowen upgraded Rocket Pharmaceuticals to a “hold” rating in a report on Friday, December 19th.

Institutional Trading of Rocket Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Federated Hermes Inc. lifted its position in Rocket Pharmaceuticals by 0.5% during the third quarter. Federated Hermes Inc. now owns 627,567 shares of the biotechnology company’s stock valued at $2,046,000 after acquiring an additional 3,264 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Rocket Pharmaceuticals by 1.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 309,247 shares of the biotechnology company’s stock worth $1,085,000 after purchasing an additional 3,809 shares in the last quarter. PFG Investments LLC lifted its holdings in shares of Rocket Pharmaceuticals by 35.1% during the 2nd quarter. PFG Investments LLC now owns 18,100 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 4,700 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Rocket Pharmaceuticals by 94.4% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 5,926 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in Rocket Pharmaceuticals by 7.3% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 96,982 shares of the biotechnology company’s stock worth $238,000 after buying an additional 6,580 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors.

Rocket Pharmaceuticals Trading Up 5.3%

RCKT stock opened at $3.16 on Monday. Rocket Pharmaceuticals has a 12 month low of $2.19 and a 12 month high of $11.11. The firm’s 50-day moving average is $3.51 and its 200 day moving average is $3.38. The company has a market capitalization of $341.98 million, a PE ratio of -1.40 and a beta of 0.48. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.30 and a quick ratio of 7.30.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.03. During the same quarter in the prior year, the company posted ($0.71) EPS. On average, research analysts anticipate that Rocket Pharmaceuticals will post -2.83 EPS for the current year.

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.