Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Rating Reaffirmed as “Buy” by Chardan Capital

Rocket Pharmaceuticals (NASDAQ:RCKT)‘s stock had its “buy” rating reaffirmed by analysts at Chardan Capital in a report issued on Wednesday, Benzinga reports. They presently have a $11.00 price target on the biotechnology company’s stock. Chardan Capital’s price objective indicates a potential upside of 318.25% from the company’s previous close.

A number of other equities research analysts also recently commented on RCKT. Jefferies Financial Group reaffirmed a “hold” rating and issued a $2.95 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday. Wall Street Zen raised shares of Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, August 17th. Weiss Ratings cut shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Needham & Company LLC upgraded shares of Rocket Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a report on Wednesday, September 16th. Finally, Wedbush reaffirmed an “outperform” rating and set a $15.00 price target on shares of Rocket Pharmaceuticals in a research report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.77.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ:RCKT opened at $2.63 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.24 and a current ratio of 9.24. The business’s fifty day moving average price is $3.32 and its two-hundred day moving average price is $3.40. The stock has a market cap of $288.71 million, a PE ratio of -15.47 and a beta of 0.50. Rocket Pharmaceuticals has a one year low of $2.42 and a one year high of $5.45.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings data on Monday, August 10th. The biotechnology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.22. During the same period in the previous year, the company earned ($0.62) earnings per share. On average, analysts forecast that Rocket Pharmaceuticals will post -1.36 EPS for the current fiscal year.

Insider Activity

In related news, COO Christopher Stevens sold 36,658 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $3.50, for a total transaction of $128,303.00. Following the transaction, the chief operating officer directly owned 505,784 shares of the company’s stock, valued at approximately $1,770,244. The trade was a 6.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Martin Wilson sold 75,364 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $3.40, for a total transaction of $256,237.60. Following the transaction, the general counsel directly owned 598,489 shares in the company, valued at approximately $2,034,862.60. The trade was a 11.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 125,977 shares of company stock valued at $432,273 in the last ninety days. Company insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of hedge funds have recently bought and sold shares of RCKT. Maverick Capital Ltd. grew its holdings in Rocket Pharmaceuticals by 42.0% during the 1st quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company’s stock worth $12,771,000 after acquiring an additional 1,054,262 shares in the last quarter. Monaco Asset Management SAM acquired a new position in shares of Rocket Pharmaceuticals in the 2nd quarter worth approximately $8,483,000. BlackRock Inc. bought a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter valued at approximately $33,940,000. Ieq Capital LLC acquired a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter valued at approximately $1,506,000. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter valued at approximately $1,489,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

More Rocket Pharmaceuticals News

Here are the key news stories impacting Rocket Pharmaceuticals this week:

• Positive Sentiment: Rocket secured access to up to $150 million through a Hercules Capital credit facility. The capital strengthens its balance sheet and is intended to support the pivotal Phase 2 trial of RP-A501 for Danon disease and the broader cardiovascular pipeline. Rocket Pharmaceuticals secures access to $150 million credit facility
• Positive Sentiment: The company highlighted an FDA-aligned development plan for the RP-A501 pivotal Phase 2 study and reported sustained biological activity in longer-term Phase 1 follow-up. The update may improve confidence that the program is advancing toward a potentially registrational data set. Rocket Pharmaceuticals RP-A501 clinical update
• Positive Sentiment: Chardan Capital reaffirmed its “buy” rating and set an $11 price target, while Wedbush maintained its “outperform” rating. These endorsements signal that some analysts see substantial upside if Rocket’s clinical programs continue to progress. Rocket Pharmaceuticals analyst ratings
• Neutral Sentiment: Leerink Partners lowered its price target from $7 to $4 and changed its rating to “market perform.” Although the new target still implies considerable upside from the recent trading level, the reduction reflects a more cautious assessment of Rocket’s valuation or execution risk.
• Neutral Sentiment: Investor-call transcripts focused on the RP-A501 pivotal trial and preliminary clinical data, reinforcing that upcoming trial execution and efficacy results remain the primary catalysts for RCKT. Rocket Pharmaceuticals Danon disease program transcript

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc (NASDAQ:RCKT) is a biotechnology company focused on developing gene therapies for rare and devastating diseases. The company uses both ex vivo hematopoietic stem cell gene therapy and in vivo adeno-associated virus (AAV) gene therapy approaches to address conditions with limited or no effective treatment options.

Rocket’s development programs have included marnetegragene autotemcel (RP-L102) for leukocyte adhesion deficiency-I, a rare inherited immune disorder; RP-A501 for Danon disease, a genetic heart condition; RP-A601 for arrhythmogenic right ventricular cardiomyopathy associated with PKP2 mutations; and RP-L301 for pyruvate kinase deficiency, an inherited blood disorder.