Brokerages Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Target Price at $8.71

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has received an average rating of “Hold” from the ten analysts that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $8.7143.

A number of research analysts have commented on RCKT shares. Weiss Ratings raised Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 15th. Chardan Capital reissued a “buy” rating and set a $11.00 target price on shares of Rocket Pharmaceuticals in a report on Monday, May 11th. Finally, Wall Street Zen cut shares of Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th.

Insider Transactions at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider Sarbani Chaudhuri sold 17,650 shares of the business’s stock in a transaction dated 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 $1,027,238.40. The trade was a 6.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gaurav Shah sold 55,684 shares of the stock in a transaction that occurred on 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 owned 1,061,724 shares in the company, valued at approximately $3,280,727.16. The trade was a 4.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 83,733 shares of company stock worth $275,307. 21.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in RCKT. Barclays PLC lifted its stake in shares of Rocket Pharmaceuticals by 2.4% in the fourth quarter. Barclays PLC now owns 153,049 shares of the biotechnology company’s stock worth $537,000 after acquiring an additional 3,656 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in Rocket Pharmaceuticals by 1.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 309,247 shares of the biotechnology company’s stock valued at $1,085,000 after purchasing an additional 3,809 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in Rocket Pharmaceuticals by 94.4% during 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 during the last quarter. Sanctuary Advisors LLC raised its holdings in Rocket Pharmaceuticals by 63.5% during the 4th quarter. Sanctuary Advisors LLC now owns 17,437 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 6,769 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its holdings in Rocket Pharmaceuticals by 8.1% during the 1st quarter. Rice Hall James & Associates LLC now owns 91,887 shares of the biotechnology company’s stock worth $329,000 after purchasing an additional 6,900 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $3.14 on Monday. Rocket Pharmaceuticals has a 12-month low of $2.53 and a 12-month high of $5.45. The company has a market capitalization of $342.86 million, a PE ratio of -1.68 and a beta of 0.45. The firm has a 50 day moving average price of $3.27 and a two-hundred day moving average price of $3.63. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.08.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.01). During the same quarter in the prior year, the business earned ($0.56) earnings per share. As a group, analysts predict that Rocket Pharmaceuticals will post -1.16 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.