Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives $16.73 Consensus Price Target from Analysts

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have received a consensus rating of “Hold” from the seventeen research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $16.7333.

RCKT has been the subject of several research analyst reports. Wedbush restated an “outperform” rating and issued a $32.00 price objective on shares of Rocket Pharmaceuticals in a research report on Friday, May 16th. Scotiabank lowered their price target on shares of Rocket Pharmaceuticals from $51.00 to $19.00 and set a “sector outperform” rating on the stock in a report on Wednesday, May 28th. Leerink Partnrs cut shares of Rocket Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 27th. Canaccord Genuity Group cut their target price on shares of Rocket Pharmaceuticals from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, July 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of Rocket Pharmaceuticals in a report on Thursday, July 24th.

Insider Transactions at Rocket Pharmaceuticals

In other news, insider Jonathan David Schwartz sold 11,161 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $3.02, for a total transaction of $33,706.22. Following the completion of the sale, the insider directly owned 224,094 shares of the company’s stock, valued at $676,763.88. The trade was a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Martin Wilson sold 12,109 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $3.02, for a total transaction of $36,569.18. Following the sale, the general counsel directly owned 137,054 shares of the company’s stock, valued at approximately $413,903.08. The trade was a 8.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,927 shares of company stock valued at $111,413 over the last three months. Corporate insiders own 24.76% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. increased its position in shares of Rocket Pharmaceuticals by 16.1% during the first quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 1,658 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Rocket Pharmaceuticals by 8.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,885 shares of the biotechnology company’s stock worth $146,000 after acquiring an additional 1,689 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Rocket Pharmaceuticals by 10.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 21,388 shares of the biotechnology company’s stock worth $143,000 after purchasing an additional 2,059 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Rocket Pharmaceuticals by 16.6% during the first quarter. HighTower Advisors LLC now owns 20,700 shares of the biotechnology company’s stock worth $138,000 after purchasing an additional 2,952 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in Rocket Pharmaceuticals by 15.3% during the first quarter. Arizona State Retirement System now owns 22,852 shares of the biotechnology company’s stock worth $152,000 after purchasing an additional 3,026 shares during the last quarter. 98.39% of the stock is owned by institutional investors.

Rocket Pharmaceuticals Stock Down 1.5%

Shares of RCKT opened at $3.21 on Friday. The company has a market capitalization of $346.36 million, a P/E ratio of -1.28 and a beta of 0.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.39 and a quick ratio of 6.39. Rocket Pharmaceuticals has a one year low of $2.19 and a one year high of $22.01. The business’s 50 day simple moving average is $3.14 and its 200-day simple moving average is $5.02.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Thursday, August 7th. The biotechnology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.02). During the same period last year, the business earned ($0.74) earnings per share. As a group, sell-side analysts predict that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

Rocket Pharmaceuticals Company Profile

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.