Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Average Recommendation of “Moderate Buy” by Brokerages

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $52.29.

RCKT has been the topic of a number of analyst reports. William Blair reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Monday, June 3rd. JPMorgan Chase & Co. upped their price target on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Chardan Capital reaffirmed a “buy” rating and set a $62.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Canaccord Genuity Group lowered their target price on shares of Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th.

Insider Transactions at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider Mark Andrew White sold 3,026 shares of Rocket Pharmaceuticals stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $20.39, for a total transaction of $61,700.14. Following the completion of the sale, the insider now owns 72,220 shares of the company’s stock, valued at $1,472,565.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 31.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RCKT. Janus Henderson Group PLC grew its holdings in shares of Rocket Pharmaceuticals by 174.3% during the 1st quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock valued at $70,170,000 after purchasing an additional 1,656,111 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Rocket Pharmaceuticals by 18.3% in the fourth quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock worth $163,264,000 after purchasing an additional 843,552 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Rocket Pharmaceuticals by 60.8% in the fourth quarter. Franklin Resources Inc. now owns 1,072,910 shares of the biotechnology company’s stock valued at $32,155,000 after acquiring an additional 405,855 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Rocket Pharmaceuticals by 11.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock valued at $79,290,000 after acquiring an additional 314,086 shares during the period. Finally, First Turn Management LLC boosted its holdings in shares of Rocket Pharmaceuticals by 123.6% during the second quarter. First Turn Management LLC now owns 560,989 shares of the biotechnology company’s stock worth $12,078,000 after purchasing an additional 310,119 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT opened at $17.60 on Friday. The firm has a market cap of $1.60 billion, a P/E ratio of -6.13 and a beta of 1.09. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $20.24 and its 200-day moving average is $22.29. Rocket Pharmaceuticals has a 12-month low of $16.55 and a 12-month high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). During the same quarter last year, the company earned ($0.82) EPS. Sell-side analysts predict that Rocket Pharmaceuticals will post -2.97 earnings per share for the current year.

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.