Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives $13.79 Average PT from Analysts

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been given an average recommendation of “Hold” by the eighteen brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $13.7857.

Several equities analysts recently issued reports on RCKT shares. Cantor Fitzgerald raised their price objective on Rocket Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Lifesci Capital raised shares of Rocket Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, February 26th. TD Cowen raised shares of Rocket Pharmaceuticals to a “hold” rating in a research report on Friday, December 19th. The Goldman Sachs Group boosted their price objective on shares of Rocket Pharmaceuticals to $3.00 and gave the stock a “sell” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen cut shares of Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, March 8th.

Insider Activity

In other news, General Counsel Martin Wilson sold 12,253 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $3.31, for a total value of $40,557.43. Following the completion of the transaction, the general counsel directly owned 683,376 shares in the company, valued at $2,261,974.56. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gaurav Shah sold 12,279 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $3.31, for a total value of $40,643.49. Following the completion of the transaction, the chief executive officer owned 1,052,045 shares of the company’s stock, valued at approximately $3,482,268.95. The trade was a 1.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 29,415 shares of company stock worth $97,398. Corporate insiders own 24.76% of the company’s stock.

Institutional Trading of Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. boosted its stake in shares of Rocket Pharmaceuticals by 0.5% in the third quarter. Federated Hermes Inc. now owns 627,567 shares of the biotechnology company’s stock worth $2,046,000 after buying an additional 3,264 shares during the last quarter. Barclays PLC raised its position in Rocket Pharmaceuticals by 2.4% during the fourth quarter. Barclays PLC now owns 153,049 shares of the biotechnology company’s stock valued at $537,000 after acquiring an additional 3,656 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Rocket Pharmaceuticals by 1.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 309,247 shares of the biotechnology company’s stock valued at $1,085,000 after acquiring an additional 3,809 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in 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 shares of 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 purchasing an additional 6,580 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ:RCKT opened at $4.69 on Tuesday. Rocket Pharmaceuticals has a 12 month low of $2.19 and a 12 month high of $8.26. The firm’s 50-day moving average is $4.03 and its 200 day moving average is $3.63. The company has a market capitalization of $509.19 million, a price-to-earnings ratio of -2.33 and a beta of 0.39. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.07.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results on Thursday, February 26th. The biotechnology company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.04. During the same quarter in the prior year, the company earned ($0.62) earnings per share. Research analysts predict that Rocket Pharmaceuticals will post -2.83 EPS for the current year.

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.