Brokerages Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) PT at $14.50

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been assigned an average recommendation of “Hold” from the eighteen brokerages that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $14.3571.

RCKT has been the topic of a number of research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Rocket Pharmaceuticals in a report on Wednesday, October 8th. Morgan Stanley set a $5.00 price objective on shares of Rocket Pharmaceuticals in a research report on Thursday, January 8th. TD Cowen upgraded Rocket Pharmaceuticals to a “hold” rating in a research note on Friday, December 19th. Wedbush reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Rocket Pharmaceuticals in a report on Friday, November 7th. Finally, Bank of America cut their price target on Rocket Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 18th.

Rocket Pharmaceuticals Stock Performance

RCKT stock opened at $3.96 on Thursday. 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 has a 1 year low of $2.19 and a 1 year high of $11.45. The company has a market cap of $428.56 million, a P/E ratio of -1.76 and a beta of 0.47. The stock’s fifty day moving average price is $3.36 and its 200-day moving average price is $3.31.

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

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RCKT. Trexquant Investment LP purchased a new position in Rocket Pharmaceuticals during the first quarter valued at approximately $251,000. AQR Capital Management LLC lifted its stake in shares of Rocket Pharmaceuticals by 148.4% during the 1st quarter. AQR Capital Management LLC now owns 163,622 shares of the biotechnology company’s stock valued at $1,091,000 after buying an additional 97,758 shares in the last quarter. Millennium Management LLC boosted its holdings in Rocket Pharmaceuticals by 121.8% in the 1st quarter. Millennium Management LLC now owns 747,147 shares of the biotechnology company’s stock worth $4,983,000 after buying an additional 410,238 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Rocket Pharmaceuticals in the 1st quarter worth $189,000. Finally, Goldman Sachs Group Inc. raised its holdings in Rocket Pharmaceuticals by 24.0% during the first quarter. Goldman Sachs Group Inc. now owns 995,690 shares of the biotechnology company’s stock valued at $6,641,000 after acquiring an additional 192,905 shares during the period. 98.39% of the stock is owned by hedge funds and other 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.