Analysts Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Target Price at $54.00

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) have earned an average recommendation of "Buy" from the eight analysts that are covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $54.00.

Several research analysts recently commented on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, February 27th. JPMorgan Chase & Co. dropped their target price on Rocket Pharmaceuticals from $55.00 to $50.00 and set an "overweight" rating for the company in a research report on Tuesday, February 27th. Needham & Company LLC restated a "buy" rating and set a $53.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, February 13th. UBS Group decreased their price target on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a "buy" rating for the company in a research note on Friday, March 1st. Finally, StockNews.com raised shares of Rocket Pharmaceuticals to a "sell" rating in a research note on Friday, February 9th.

Rocket Pharmaceuticals Trading Down 1.1 %

RCKT traded down $0.31 on Friday, hitting $26.94. The company had a trading volume of 498,831 shares, compared to its average volume of 776,195. The company has a market cap of $2.44 billion, a PE ratio of -9.16 and a beta of 1.08. Rocket Pharmaceuticals has a 12-month low of $14.89 and a 12-month high of $32.53. The company has a quick ratio of 7.80, a current ratio of 7.80 and a debt-to-equity ratio of 0.04. The business's fifty day simple moving average is $28.42 and its 200 day simple moving average is $24.91.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The biotechnology company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.14. During the same period in the previous year, the business posted ($0.92) earnings per share. Equities research analysts expect that Rocket Pharmaceuticals will post -2.94 EPS for the current year.

Insider Buying and Selling

In related news, CEO Gaurav Shah sold 20,272 shares of the business's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $29.84, for a total value of $604,916.48. Following the completion of the transaction, the chief executive officer now owns 554,762 shares of the company's stock, valued at $16,554,098.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Kinnari Patel sold 7,132 shares of the company's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $29.84, for a total transaction of $212,818.88. Following the transaction, the insider now directly owns 238,346 shares of the company's stock, valued at $7,112,244.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gaurav Shah sold 20,272 shares of the company's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $29.84, for a total value of $604,916.48. Following the transaction, the chief executive officer now directly owns 554,762 shares in the company, valued at $16,554,098.08. The disclosure for this sale can be found here. Insiders sold 322,208 shares of company stock valued at $9,220,239 over the last 90 days. Corporate insiders own 31.10% of the company's stock.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of large investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in shares of Rocket Pharmaceuticals by 56.0% during the third quarter. Wellington Management Group LLP now owns 8,022,830 shares of the biotechnology company's stock valued at $164,388,000 after buying an additional 2,880,373 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Rocket Pharmaceuticals by 133.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,551,774 shares of the biotechnology company's stock valued at $24,612,000 after buying an additional 886,919 shares during the last quarter. Maverick Capital Ltd. grew its holdings in shares of Rocket Pharmaceuticals by 34.1% during the fourth quarter. Maverick Capital Ltd. now owns 3,395,818 shares of the biotechnology company's stock valued at $66,456,000 after buying an additional 863,452 shares during the last quarter. State Street Corp grew its holdings in shares of Rocket Pharmaceuticals by 33.8% during the third quarter. State Street Corp now owns 3,392,333 shares of the biotechnology company's stock valued at $54,142,000 after buying an additional 856,076 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Rocket Pharmaceuticals by 18.3% during the fourth quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company's stock valued at $163,264,000 after buying an additional 843,552 shares during the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

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.