Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives $43.00 Consensus Price Target from Brokerages

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have received a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $41.09.

Several equities analysts have recently commented on RCKT shares. Scotiabank upped their target price on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 target price on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 9th. Canaccord Genuity Group reduced their price target on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Chardan Capital dropped their price objective on shares of Rocket Pharmaceuticals from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Friday. Finally, The Goldman Sachs Group reduced their target price on shares of Rocket Pharmaceuticals from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday.

Rocket Pharmaceuticals Stock Performance

RCKT stock opened at $6.97 on Friday. The stock’s 50 day simple moving average is $7.15 and its 200 day simple moving average is $10.70. Rocket Pharmaceuticals has a 12-month low of $4.55 and a 12-month high of $26.98. The firm has a market cap of $744.30 million, a P/E ratio of -2.53 and a beta of 1.02. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results on Thursday, May 8th. The biotechnology company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.03. During the same quarter last year, the firm earned ($0.66) EPS. As a group, equities research analysts predict that Rocket Pharmaceuticals will post -2.83 EPS for the current year.

Insider Transactions at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CEO Gaurav Shah acquired 20,000 shares of the stock in a transaction dated Thursday, April 10th. The shares were bought at an average price of $5.08 per share, with a total value of $101,600.00. Following the purchase, the chief executive officer now directly owns 792,680 shares of the company’s stock, valued at approximately $4,026,814.40. This trade represents a 2.59 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kinnari Patel bought 21,099 shares of the business’s stock in a transaction that occurred on Wednesday, April 9th. The shares were acquired at an average cost of $4.70 per share, with a total value of $99,165.30. Following the completion of the purchase, the insider now owns 26,774 shares of the company’s stock, valued at approximately $125,837.80. The trade was a 371.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 28.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RCKT. Rhumbline Advisers raised its stake in Rocket Pharmaceuticals by 1.3% during the 4th quarter. Rhumbline Advisers now owns 99,339 shares of the biotechnology company’s stock valued at $1,249,000 after purchasing an additional 1,242 shares during the period. Envestnet Asset Management Inc. raised its position in Rocket Pharmaceuticals by 4.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company’s stock valued at $408,000 after buying an additional 1,280 shares during the period. Arizona State Retirement System lifted its stake in Rocket Pharmaceuticals by 8.4% in the 4th quarter. Arizona State Retirement System now owns 19,826 shares of the biotechnology company’s stock worth $249,000 after acquiring an additional 1,528 shares in the last quarter. Virtus ETF Advisers LLC boosted its position in Rocket Pharmaceuticals by 40.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 1,628 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Rocket Pharmaceuticals by 16.1% during the 1st quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company’s stock valued at $80,000 after acquiring an additional 1,658 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

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.