Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Rating Reaffirmed as Buy by Chardan Capital

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Chardan Capital in a report released on Wednesday, Benzinga reports. They currently have a $11.00 target price on the biotechnology company's stock. Chardan Capital's price target would indicate a potential upside of 343.55% from the company's current price.

A number of other research analysts have also commented on RCKT. Wall Street Zen upgraded Rocket Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, August 17th. Weiss Ratings lowered Rocket Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 11th. Wedbush reiterated an "outperform" rating and issued a $15.00 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday, September 16th. Needham & Company LLC upgraded Rocket Pharmaceuticals from a "hold" rating to a "buy" rating and set a $9.00 price objective on the stock in a research report on Wednesday, September 16th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $2.95 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $8.12.

Rocket Pharmaceuticals Stock Down 5.0%

Shares of RCKT opened at $2.48 on Wednesday. The firm has a market capitalization of $272.25 million, a price-to-earnings ratio of -14.59 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. The business's fifty day moving average price is $3.35 and its two-hundred day moving average price is $3.42. Rocket Pharmaceuticals has a 52 week low of $2.46 and a 52 week high of $5.45.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The biotechnology company reported $1.08 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.22. During the same period in the prior year, the business earned ($0.62) earnings per share. On average, analysts predict that Rocket Pharmaceuticals will post -1.36 earnings per share for the current year.

Insider Buying and Selling at Rocket Pharmaceuticals

In related news, COO Christopher Stevens sold 36,658 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $3.50, for a total transaction of $128,303.00. Following the sale, the chief operating officer owned 505,784 shares of the company's stock, valued at approximately $1,770,244. This trade represents a 6.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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 firm's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $3.40, for a total value of $256,237.60. Following the sale, the general counsel directly owned 598,489 shares in the company, valued at $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 have sold a total of 125,977 shares of company stock worth $432,273 in the last ninety days. 21.30% of the stock is currently owned by company insiders.

Institutional Trading of Rocket Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in RCKT. Allworth Financial LP acquired a new stake in Rocket Pharmaceuticals during the 2nd quarter worth $28,000. Legal & General Group Plc acquired a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter valued at about $31,000. HB Wealth Management LLC acquired a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter valued at about $36,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter valued at about $41,000. Finally, Optiver Holding B.V. raised its stake in shares of Rocket Pharmaceuticals by 584.1% in the 1st quarter. Optiver Holding B.V. now owns 12,484 shares of the biotechnology company's stock valued at $45,000 after purchasing an additional 10,659 shares during the period. Institutional investors and hedge funds own 98.39% of the company's stock.

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.