Rocket Pharmaceuticals (NASDAQ:RCKT) Research Coverage Started at Wedbush

Wedbush assumed coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a report released on Monday, MarketBeat.com reports. The brokerage issued an outperform rating and a $32.00 price objective on the biotechnology company’s stock. Wedbush also issued estimates for Rocket Pharmaceuticals’ Q4 2024 earnings at ($0.67) EPS, Q1 2025 earnings at ($0.59) EPS, Q2 2025 earnings at ($0.60) EPS, Q3 2025 earnings at ($0.56) EPS, Q4 2025 earnings at ($0.57) EPS, FY2025 earnings at ($2.32) EPS, FY2026 earnings at ($2.13) EPS, FY2027 earnings at ($1.93) EPS and FY2028 earnings at ($1.19) EPS.

Other equities analysts also recently issued research reports about the stock. Scotiabank assumed coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective for the company. Canaccord Genuity Group restated a “buy” rating and set a $39.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Chardan Capital reiterated a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. Leerink Partners cut their price target on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Finally, Jefferies Financial Group assumed coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They set a “buy” rating and a $29.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.27.

Rocket Pharmaceuticals Stock Up 4.5 %

RCKT stock opened at $12.57 on Monday. The firm has a 50-day moving average price of $14.19 and a 200-day moving average price of $17.97. Rocket Pharmaceuticals has a 12 month low of $11.15 and a 12 month high of $31.47. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.15 billion, a P/E ratio of -4.57 and a beta of 1.01.

Insider Activity

In other news, CEO Gaurav Shah sold 11,091 shares of Rocket Pharmaceuticals stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $13.05, for a total value of $144,737.55. Following the completion of the transaction, the chief executive officer now directly owns 707,328 shares of the company’s stock, valued at approximately $9,230,630.40. This trade represents a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 13,490 shares of company stock valued at $176,045. 28.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in Rocket Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after acquiring an additional 582 shares in the last quarter. Values First Advisors Inc. bought a new position in shares of Rocket Pharmaceuticals during the 3rd quarter worth about $108,000. SG Americas Securities LLC acquired a new stake in shares of Rocket Pharmaceuticals in the 3rd quarter valued at about $113,000. XTX Topco Ltd bought a new stake in Rocket Pharmaceuticals in the 3rd quarter valued at about $286,000. Finally, Verition Fund Management LLC acquired a new position in Rocket Pharmaceuticals during the 3rd quarter worth approximately $290,000. 98.39% of the stock is currently owned by institutional investors.

Rocket Pharmaceuticals Company Profile

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.