Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Consensus Recommendation of “Hold” by Analysts

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have been assigned an average rating of “Hold” from the seventeen brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $16.3333.

RCKT has been the subject of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Rocket Pharmaceuticals in a research report on Thursday, July 24th. Cantor Fitzgerald dropped their target price on shares of Rocket Pharmaceuticals from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Chardan Capital dropped their target price on shares of Rocket Pharmaceuticals from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Leerink Partners reiterated a “market perform” rating and set a $8.00 target price (down from $37.00) on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group lowered shares of Rocket Pharmaceuticals from a “neutral” rating to a “sell” rating in a research report on Wednesday, May 28th.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its holdings in shares of Rocket Pharmaceuticals by 4.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company’s stock worth $408,000 after acquiring an additional 1,280 shares during the last quarter. Virtus ETF Advisers LLC raised its holdings 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 valued at $71,000 after buying an additional 1,628 shares during the last quarter. Victory Capital Management Inc. raised its holdings 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 buying an additional 1,658 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Rocket Pharmaceuticals by 8.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,885 shares of the biotechnology company’s stock valued at $146,000 after buying an additional 1,689 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Rocket Pharmaceuticals by 33,166.7% during the 4th quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 1,990 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ:RCKT opened at $3.05 on Monday. The company has a 50 day moving average of $2.96 and a 200 day moving average of $5.84. The stock has a market cap of $329.10 million, a P/E ratio of -1.22 and a beta of 0.65. Rocket Pharmaceuticals has a 12 month low of $2.19 and a 12 month high of $22.01. The company has a current ratio of 6.39, a quick ratio of 6.39 and a debt-to-equity ratio of 0.05.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.02). During the same quarter in the prior year, the firm earned ($0.74) EPS. As a group, sell-side analysts forecast that Rocket Pharmaceuticals will post -2.83 EPS 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.