Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives $52.13 Average PT from Brokerages

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been given an average rating of “Moderate Buy” by the ten ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $52.13.

Several analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $53.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, May 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 27th. UBS Group lowered their target price on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, March 1st. JPMorgan Chase & Co. lowered their target price on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. Finally, William Blair reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Monday, June 3rd.

Insider Transactions at Rocket Pharmaceuticals

In other news, insider John Militello sold 1,079 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $23.35, for a total transaction of $25,194.65. Following the completion of the transaction, the insider now owns 53,327 shares in the company, valued at $1,245,185.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Gotham Makker sold 274,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $28.43, for a total value of $7,789,820.00. Following the completion of the transaction, the director now owns 365,912 shares in the company, valued at approximately $10,402,878.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Militello sold 1,079 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $23.35, for a total transaction of $25,194.65. Following the completion of the transaction, the insider now owns 53,327 shares of the company’s stock, valued at approximately $1,245,185.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 381,772 shares of company stock worth $10,411,590. Insiders own 31.10% of the company’s stock.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank grew its position in Rocket Pharmaceuticals by 5.4% in the 4th quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock valued at $259,000 after buying an additional 440 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Rocket Pharmaceuticals by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 17,963 shares of the biotechnology company’s stock valued at $538,000 after acquiring an additional 661 shares during the last quarter. Torray Investment Partners LLC lifted its holdings in Rocket Pharmaceuticals by 1.1% in the 4th quarter. Torray Investment Partners LLC now owns 60,856 shares of the biotechnology company’s stock valued at $1,824,000 after acquiring an additional 679 shares during the last quarter. Jennison Associates LLC lifted its holdings in Rocket Pharmaceuticals by 3.5% in the 1st quarter. Jennison Associates LLC now owns 26,783 shares of the biotechnology company’s stock valued at $722,000 after acquiring an additional 903 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Rocket Pharmaceuticals by 0.8% in the 1st quarter. Nordea Investment Management AB now owns 154,070 shares of the biotechnology company’s stock valued at $4,140,000 after acquiring an additional 1,209 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Trading Down 4.4 %

RCKT opened at $21.86 on Wednesday. The stock has a market capitalization of $1.98 billion, a PE ratio of -7.62 and a beta of 1.08. The firm’s fifty day moving average price is $22.86 and its 200 day moving average price is $26.23. The company has a debt-to-equity ratio of 0.04, a current ratio of 10.47 and a quick ratio of 10.47. Rocket Pharmaceuticals has a 12-month low of $14.89 and a 12-month high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.01. During the same quarter last year, the firm earned ($0.73) earnings per share. As a group, research analysts expect that Rocket Pharmaceuticals will post -2.85 EPS for the current fiscal 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.