Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives $52.13 Consensus Price Target from Analysts

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $52.13.

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Rocket Pharmaceuticals in a research note on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, February 27th. UBS Group cut their price target on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $53.00 price target on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. cut their price target on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 27th.

Insider Activity

In other news, Director David P. Southwell sold 70,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $24.36, for a total transaction of $1,705,200.00. Following the sale, the director now directly owns 95,160 shares in the company, valued at approximately $2,318,097.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director David P. Southwell sold 70,000 shares of Rocket Pharmaceuticals stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $24.36, for a total value of $1,705,200.00. Following the sale, the director now directly owns 95,160 shares in the company, valued at approximately $2,318,097.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David P. Southwell sold 10,000 shares of Rocket Pharmaceuticals stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $24.05, for a total value of $240,500.00. Following the completion of the sale, the director now owns 114,784 shares in the company, valued at $2,760,555.20. The disclosure for this sale can be found here. Insiders have sold 414,935 shares of company stock worth $11,476,424 in the last ninety days. Company insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its holdings in Rocket Pharmaceuticals by 96.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,068 shares of the biotechnology company’s stock worth $42,000 after buying an additional 1,014 shares during the last quarter. Annandale Capital LLC purchased a new position in Rocket Pharmaceuticals in the 3rd quarter worth approximately $66,000. Allspring Global Investments Holdings LLC lifted its stake in Rocket Pharmaceuticals by 14.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 633 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Rocket Pharmaceuticals by 105.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,557 shares of the biotechnology company’s stock worth $107,000 after purchasing an additional 1,829 shares in the last quarter. Finally, Old Well Partners LLC purchased a new position in Rocket Pharmaceuticals in the 4th quarter worth approximately $200,000. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ:RCKT opened at $22.10 on Tuesday. The firm has a 50 day moving average of $26.87 and a 200 day moving average of $25.43. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -7.52 and a beta of 1.07. The company has a quick ratio of 7.80, a current ratio of 7.80 and a debt-to-equity ratio of 0.04. Rocket Pharmaceuticals has a 52 week low of $14.89 and a 52 week high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings data on Monday, February 26th. The biotechnology company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.14. During the same period in the previous year, the business posted ($0.92) EPS. On average, sell-side analysts predict that Rocket Pharmaceuticals will post -2.94 earnings per share for the current fiscal year.

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.