Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been assigned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $51.75.

Several research firms have recently weighed in on RCKT. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. JPMorgan Chase & Co. upped their price objective on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Chardan Capital restated a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Canaccord Genuity Group decreased their price objective on shares of Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Finally, William Blair reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Monday, June 3rd.

Rocket Pharmaceuticals Stock Performance

Rocket Pharmaceuticals stock opened at $18.85 on Monday. The firm has a 50 day simple moving average of $21.18 and a 200-day simple moving average of $23.51. Rocket Pharmaceuticals has a 1-year low of $15.27 and a 1-year high of $32.53. The company has a debt-to-equity ratio of 0.05, a current ratio of 7.79 and a quick ratio of 7.79. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -6.57 and a beta of 1.13.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.02). During the same quarter last year, the firm earned ($0.82) EPS. On average, analysts expect that Rocket Pharmaceuticals will post -2.97 EPS for the current year.

Insider Buying and Selling

In other Rocket Pharmaceuticals news, insider Mark Andrew White sold 3,026 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $20.39, for a total value of $61,700.14. Following the transaction, the insider now directly owns 72,220 shares in the company, valued at $1,472,565.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 31.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its position in shares of Rocket Pharmaceuticals by 12.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 594,665 shares of the biotechnology company’s stock valued at $17,822,000 after buying an additional 64,946 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Rocket Pharmaceuticals by 4.1% in the 1st quarter. Russell Investments Group Ltd. now owns 675,769 shares of the biotechnology company’s stock valued at $18,205,000 after buying an additional 26,823 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Rocket Pharmaceuticals by 60.8% in the 4th quarter. Franklin Resources Inc. now owns 1,072,910 shares of the biotechnology company’s stock valued at $32,155,000 after buying an additional 405,855 shares during the last quarter. Avidity Partners Management LP grew its position in shares of Rocket Pharmaceuticals by 8.3% in the 4th quarter. Avidity Partners Management LP now owns 1,719,103 shares of the biotechnology company’s stock valued at $51,522,000 after buying an additional 131,674 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Rocket Pharmaceuticals in the 4th quarter valued at $332,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

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.