Brokerages Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) PT at $11.54

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have been assigned an average rating of “Hold” from the eighteen analysts that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $11.5385.

RCKT has been the subject of several analyst reports. Chardan Capital reiterated a “buy” rating and issued a $11.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. Lifesci Capital raised shares of Rocket Pharmaceuticals to a “strong-buy” rating in a report on Thursday, February 26th. The Goldman Sachs Group boosted their price target on shares of Rocket Pharmaceuticals to $3.00 and gave the stock a “sell” rating in a report on Monday, March 2nd. Weiss Ratings lowered shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. Finally, Bank of America boosted their price target on shares of Rocket Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, March 30th.

Insider Buying and Selling

In related news, insider Sarbani Chaudhuri sold 17,650 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $3.84, for a total value of $67,776.00. Following the completion of the sale, the insider owned 267,510 shares of the company’s stock, valued at approximately $1,027,238.40. The trade was a 6.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 25,751 shares of company stock valued at $96,708. 21.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rice Hall James & Associates LLC increased its holdings in Rocket Pharmaceuticals by 8.1% in the 1st quarter. Rice Hall James & Associates LLC now owns 91,887 shares of the biotechnology company’s stock worth $329,000 after acquiring an additional 6,900 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Rocket Pharmaceuticals by 51.3% in the 1st quarter. Renaissance Technologies LLC now owns 637,174 shares of the biotechnology company’s stock worth $2,281,000 after acquiring an additional 216,000 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of Rocket Pharmaceuticals during the first quarter worth $101,000. Sequoia Financial Advisors LLC grew its holdings in shares of Rocket Pharmaceuticals by 68.9% during the first quarter. Sequoia Financial Advisors LLC now owns 20,349 shares of the biotechnology company’s stock worth $73,000 after buying an additional 8,298 shares in the last quarter. Finally, Ground Swell Capital LLC purchased a new stake in shares of Rocket Pharmaceuticals during the first quarter worth $50,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

RCKT opened at $3.25 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.12 and a quick ratio of 6.12. The firm has a fifty day moving average price of $3.94 and a 200 day moving average price of $3.67. Rocket Pharmaceuticals has a 1 year low of $2.19 and a 1 year high of $6.89. The stock has a market cap of $354.87 million, a P/E ratio of -1.74 and a beta of 0.52.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.01). During the same quarter in the previous year, the business posted ($0.56) EPS. Equities research analysts anticipate that Rocket Pharmaceuticals will post -1.24 earnings per share 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.