Rocket Pharmaceuticals (NASDAQ:RCKT) Raised to “Hold” at Wall Street Zen

Rocket Pharmaceuticals (NASDAQ:RCKT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

RCKT has been the topic of a number of other research reports. Wedbush lowered their target price on Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Chardan Capital reaffirmed a “buy” rating and set a $11.00 price target on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. Finally, Weiss Ratings lowered Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Rocket Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $8.57.

Rocket Pharmaceuticals Stock Down 1.8%

Rocket Pharmaceuticals stock opened at $3.34 on Monday. The firm has a market cap of $366.67 million, a PE ratio of -19.65 and a beta of 0.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.24 and a current ratio of 9.24. The firm’s 50 day moving average price is $3.41 and its two-hundred day moving average price is $3.60. Rocket Pharmaceuticals has a twelve month low of $2.53 and a twelve month high of $5.45.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Monday, August 10th. The biotechnology company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.86 by $0.22. During the same quarter in the previous year, the firm earned ($0.62) EPS. On average, research analysts predict that Rocket Pharmaceuticals will post -1.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 55,684 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $3.09, for a total transaction of $172,063.56. Following the transaction, the chief executive officer directly owned 1,061,724 shares in the company, valued at $3,280,727.16. This trade represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christopher James Stevens sold 36,658 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $3.50, for a total value of $128,303.00. Following the completion of the sale, the chief operating officer directly owned 505,784 shares of the company’s stock, valued at $1,770,244. This represents a 6.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 103,373 shares of company stock valued at $338,215 over the last quarter. 21.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Allworth Financial LP acquired a new stake in Rocket Pharmaceuticals in the 2nd quarter worth approximately $28,000. Legal & General Group Plc acquired a new position in Rocket Pharmaceuticals during the second quarter valued at approximately $31,000. Prudential Financial Inc. bought a new position in shares of Rocket Pharmaceuticals in the second quarter valued at approximately $25,000. Franklin Resources Inc. bought a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $38,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in Rocket Pharmaceuticals in the 2nd quarter valued at $41,000. 98.39% of the stock is owned by institutional investors.

Rocket Pharmaceuticals Company Profile

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.