Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Stock Has Consensus Target Price of $7.77 According to Analysts

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have been given a consensus recommendation of “Hold” by the twelve brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $7.77.

Several brokerages have commented on RCKT. Weiss Ratings lowered Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Chardan Capital restated a “buy” rating and set a $11.00 price objective on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 7th. Wall Street Zen raised shares of Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, August 17th. The Goldman Sachs Group upgraded Rocket Pharmaceuticals from a “sell” rating to a “neutral” rating and increased their target price for the company from $3.00 to $4.00 in a research note on Thursday, October 8th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $2.95 target price on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 7th.

Insider Activity at Rocket Pharmaceuticals

In other news, COO Christopher Stevens sold 36,658 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $3.50, for a total value of $128,303.00. Following the completion of the sale, the chief operating officer directly owned 505,784 shares in the company, valued at $1,770,244. This represents a 6.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Martin Wilson sold 75,364 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $3.40, for a total value of $256,237.60. Following the completion of the sale, the general counsel owned 598,489 shares of the company’s stock, valued at approximately $2,034,862.60. The trade was a 11.18% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 125,977 shares of company stock worth $432,273 in the last quarter. Company insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Corient Private Wealth LP grew its stake in shares of Rocket Pharmaceuticals by 17.0% during the second quarter. Corient Private Wealth LP now owns 37,819 shares of the biotechnology company’s stock valued at $129,000 after buying an additional 5,501 shares during the last quarter. Rice Hall James & Associates LLC increased its stake in Rocket Pharmaceuticals by 8.1% in the 1st quarter. Rice Hall James & Associates LLC now owns 91,887 shares of the biotechnology company’s stock worth $329,000 after buying an additional 6,900 shares during the period. Allworth Financial LP bought a new position in Rocket Pharmaceuticals in the 2nd quarter worth about $28,000. Sequoia Financial Advisors LLC raised its stake in shares of Rocket Pharmaceuticals by 68.9% during the first quarter. Sequoia Financial Advisors LLC now owns 20,349 shares of the biotechnology company’s stock valued at $73,000 after acquiring an additional 8,298 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Rocket Pharmaceuticals in the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

NASDAQ:RCKT opened at $2.21 on Friday. The business has a 50 day moving average price of $3.24 and a 200-day moving average price of $3.34. Rocket Pharmaceuticals has a fifty-two week low of $2.18 and a fifty-two week high of $5.45. The firm has a market cap of $242.60 million, a PE ratio of -13.00 and a beta of 0.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.24 and a current ratio of 9.24.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings results on Monday, August 10th. The biotechnology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.22. During the same quarter in the prior year, the firm posted ($0.62) earnings per share. Equities research analysts predict that Rocket Pharmaceuticals will post -1.36 earnings per share for the current year.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc (NASDAQ:RCKT) is a biotechnology company focused on developing gene therapies for rare and devastating diseases. The company uses both ex vivo hematopoietic stem cell gene therapy and in vivo adeno-associated virus (AAV) gene therapy approaches to address conditions with limited or no effective treatment options.

Rocket’s development programs have included marnetegragene autotemcel (RP-L102) for leukocyte adhesion deficiency-I, a rare inherited immune disorder; RP-A501 for Danon disease, a genetic heart condition; RP-A601 for arrhythmogenic right ventricular cardiomyopathy associated with PKP2 mutations; and RP-L301 for pyruvate kinase deficiency, an inherited blood disorder.