Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Consensus Rating of “Hold” by Analysts

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been assigned a consensus recommendation of “Hold” from the eighteen brokerages that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $16.6667.

A number of equities research analysts have recently weighed in on RCKT shares. Leerink Partners dropped their price target on Rocket Pharmaceuticals from $9.00 to $7.00 and set a “market perform” rating on the stock in a research note on Friday. Canaccord Genuity Group lowered their target price on shares of Rocket Pharmaceuticals from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, July 25th. Cantor Fitzgerald dropped their target price on shares of Rocket Pharmaceuticals from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. UBS Group decreased their price target on shares of Rocket Pharmaceuticals from $12.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, June 17th. Finally, Chardan Capital reiterated a “buy” rating and set a $11.00 price objective on shares of Rocket Pharmaceuticals in a research note on Wednesday, August 20th.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT opened at $3.18 on Tuesday. The company has a current ratio of 6.39, a quick ratio of 6.39 and a debt-to-equity ratio of 0.05. The firm has a market cap of $343.13 million, a PE ratio of -1.27 and a beta of 0.60. Rocket Pharmaceuticals has a 12 month low of $2.19 and a 12 month high of $18.89. The stock has a fifty day moving average price of $3.19 and a 200-day moving average price of $4.24.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.02). During the same period in the previous year, the firm posted ($0.74) earnings per share. Equities research analysts predict that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, insider Jonathan David Schwartz sold 11,161 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 $33,706.22. Following the sale, the insider owned 224,094 shares in the company, valued at approximately $676,763.88. The trade was a 4.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elisabeth Bjork acquired 10,000 shares of Rocket Pharmaceuticals stock in a transaction dated Wednesday, August 27th. The stock was purchased at an average price of $3.41 per share, with a total value of $34,100.00. Following the completion of the purchase, the director owned 40,000 shares of the company’s stock, valued at approximately $136,400. The trade was a 33.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 35,450 shares of company stock valued at $107,159. 24.76% of the stock is owned by company insiders.

Institutional Trading of Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of RCKT. Maverick Capital Ltd. boosted its holdings in shares of Rocket Pharmaceuticals by 60.9% in the 2nd quarter. Maverick Capital Ltd. now owns 8,363,813 shares of the biotechnology company’s stock valued at $20,491,000 after acquiring an additional 3,164,595 shares during the last quarter. Vanguard Group Inc. lifted its position in Rocket Pharmaceuticals by 0.6% during the first quarter. Vanguard Group Inc. now owns 6,617,784 shares of the biotechnology company’s stock valued at $44,141,000 after purchasing an additional 40,189 shares during the period. Westfield Capital Management Co. LP boosted its holdings in Rocket Pharmaceuticals by 2.3% in the first quarter. Westfield Capital Management Co. LP now owns 4,820,701 shares of the biotechnology company’s stock valued at $32,154,000 after purchasing an additional 106,091 shares during the last quarter. MPM Bioimpact LLC boosted its holdings in Rocket Pharmaceuticals by 141.2% in the second quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock valued at $9,563,000 after purchasing an additional 2,284,816 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Rocket Pharmaceuticals by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,030,891 shares of the biotechnology company’s stock worth $4,976,000 after purchasing an additional 36,847 shares during the period. 98.39% of the stock is currently owned by institutional investors and hedge funds.

About Rocket Pharmaceuticals

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.