Rocket Pharmaceuticals (NASDAQ:RCKT) Price Target Lowered to $44.00 at JPMorgan Chase & Co.

Rocket Pharmaceuticals (NASDAQ:RCKT) had its price objective decreased by JPMorgan Chase & Co. from $45.00 to $44.00 in a research note issued to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biotechnology company’s stock.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group reduced their price target on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. The Goldman Sachs Group cut their price objective on shares of Rocket Pharmaceuticals from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 target price on shares of Rocket Pharmaceuticals in a report on Wednesday, April 9th. Scotiabank raised their price target on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Finally, Chardan Capital lowered their price objective on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.09.

Rocket Pharmaceuticals Stock Down 1.0 %

RCKT stock opened at $6.97 on Friday. The stock has a fifty day moving average of $7.15 and a 200-day moving average of $10.70. Rocket Pharmaceuticals has a fifty-two week low of $4.55 and a fifty-two week high of $26.98. The company has a market capitalization of $744.30 million, a price-to-earnings ratio of -2.53 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05.

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 in the prior year, the business posted ($0.66) EPS. As a group, equities research analysts predict that Rocket Pharmaceuticals will post -2.83 earnings per share for the current year.

Insider Activity at Rocket Pharmaceuticals

In related news, insider Kinnari Patel bought 21,099 shares of the stock in a transaction dated Wednesday, April 9th. The stock was bought at an average price of $4.70 per share, with a total value of $99,165.30. Following the purchase, the insider now owns 26,774 shares in the company, valued at approximately $125,837.80. The trade was a 371.79 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Aaron Ondrey sold 7,489 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $5.29, for a total value of $39,616.81. Following the transaction, the chief financial officer now owns 129,650 shares in the company, valued at approximately $685,848.50. The trade was a 5.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 28.50% of the stock is owned by insiders.

Institutional Trading of Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in shares of Rocket Pharmaceuticals by 24.5% in the fourth quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company’s stock worth $175,919,000 after purchasing an additional 2,753,033 shares during the last quarter. Vanguard Group Inc. grew its holdings in Rocket Pharmaceuticals by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,617,784 shares of the biotechnology company’s stock worth $44,141,000 after acquiring an additional 40,189 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in Rocket Pharmaceuticals by 2.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 4,820,701 shares of the biotechnology company’s stock worth $32,154,000 after acquiring an additional 106,091 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Rocket Pharmaceuticals by 111.0% in the fourth quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company’s stock valued at $50,343,000 after acquiring an additional 2,106,699 shares during the period. Finally, Suvretta Capital Management LLC bought a new position in shares of Rocket Pharmaceuticals during the fourth quarter valued at about $32,267,000. Institutional investors own 98.39% of the company’s stock.

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.