Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have earned an average recommendation of “Hold” from the eighteen brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $11.5385.

A number of equities research analysts have issued reports on the company. Bank of America boosted their price target on Rocket Pharmaceuticals from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, March 30th. The Goldman Sachs Group lifted their price objective on Rocket Pharmaceuticals to $3.00 and gave the company a “sell” rating in a research report on Monday, March 2nd. Cantor Fitzgerald lifted their price objective on Rocket Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Weiss Ratings cut Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 14th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $11.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, May 11th.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, insider Sarbani Chaudhuri sold 17,650 shares of Rocket Pharmaceuticals stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $3.84, for a total transaction of $67,776.00. Following the transaction, the insider directly owned 267,510 shares of the company’s stock, valued at $1,027,238.40. The trade was a 6.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 24,594 shares of company stock worth $92,844. 21.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RCKT. Monaco Asset Management SAM lifted its position in shares of Rocket Pharmaceuticals by 538.8% during the 3rd quarter. Monaco Asset Management SAM now owns 2,892,261 shares of the biotechnology company’s stock valued at $9,429,000 after buying an additional 2,439,494 shares in the last quarter. MPM Bioimpact LLC lifted its position in shares of Rocket Pharmaceuticals by 141.2% during the 2nd quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock valued at $9,563,000 after buying an additional 2,284,816 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Rocket Pharmaceuticals by 690.8% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,548,262 shares of the biotechnology company’s stock valued at $3,793,000 after buying an additional 1,352,469 shares in the last quarter. Millennium Management LLC lifted its position in shares of Rocket Pharmaceuticals by 52.0% during the 3rd quarter. Millennium Management LLC now owns 3,570,391 shares of the biotechnology company’s stock valued at $11,639,000 after buying an additional 1,221,554 shares in the last quarter. Finally, Maverick Capital Ltd. lifted its position in shares of Rocket Pharmaceuticals by 42.0% during the 1st quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company’s stock valued at $12,771,000 after buying an additional 1,054,262 shares in the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Trading Down 4.9%

Rocket Pharmaceuticals stock opened at $2.92 on Wednesday. The business has a 50-day simple moving average of $3.88 and a two-hundred day simple moving average of $3.66. The company has a market cap of $318.83 million, a P/E ratio of -1.56 and a beta of 0.52. Rocket Pharmaceuticals has a 52-week low of $2.19 and a 52-week high of $6.89. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.08.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). During the same quarter last year, the company posted ($0.56) earnings per share. Analysts predict that Rocket Pharmaceuticals will post -1.24 EPS for the current year.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.

The company’s pipeline comprises multiple product candidates in various stages of development.