Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Average Rating of "Hold" by Analysts

Key Points

• Rocket Pharmaceuticals has received an average analyst rating of "Hold," with one sell recommendation, eight holds, and eight buy recommendations, indicating a cautious outlook by experts.
• The stock's average 12-month price target among analysts is approximately $16.73, showing potential growth despite recent fluctuations.
• Insider trading activity included sales by General Counsel Martin Wilson and another insider, collectively reducing their holdings by 24.76% in the last quarter.

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) has received a consensus recommendation of "Hold" from the seventeen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $16.7333.

Several equities research analysts have recently commented on the stock. Needham & Company LLC restated a "hold" rating on shares of Rocket Pharmaceuticals in a research note on Thursday, July 24th. UBS Group reduced their price target on shares of Rocket Pharmaceuticals from $12.00 to $5.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. Chardan Capital reissued a "buy" rating and set a $11.00 price objective on shares of Rocket Pharmaceuticals in a report on Wednesday, August 20th. Cantor Fitzgerald lowered their price target on Rocket Pharmaceuticals from $10.00 to $8.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, Bank of America raised Rocket Pharmaceuticals from a "neutral" rating to a "buy" rating and upped their price target for the company from $4.00 to $10.00 in a research note on Wednesday, August 20th.

Insiders Place Their Bets

In other news, General Counsel Martin Wilson sold 12,109 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $3.02, for a total value of $36,569.18. Following the completion of the sale, the general counsel owned 137,054 shares of the company's stock, valued at approximately $413,903.08. This represents a 8.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan David Schwartz sold 11,161 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $3.02, for a total value of $33,706.22. Following the sale, the insider directly owned 224,094 shares of the company's stock, valued at $676,763.88. This represents a 4.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,927 shares of company stock valued at $111,413 in the last quarter. 24.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Signaturefd LLC boosted its stake in Rocket Pharmaceuticals by 83.6% in the first quarter. Signaturefd LLC now owns 9,024 shares of the biotechnology company's stock valued at $60,000 after buying an additional 4,108 shares in the last quarter. Prudential Financial Inc. acquired a new stake in Rocket Pharmaceuticals in the second quarter valued at about $25,000. Hsbc Holdings PLC acquired a new stake in Rocket Pharmaceuticals in the first quarter valued at about $69,000. Victory Capital Management Inc. boosted its stake in Rocket Pharmaceuticals by 16.1% in the first quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company's stock valued at $80,000 after buying an additional 1,658 shares in the last quarter. Finally, LJI Wealth Management LLC acquired a new stake in Rocket Pharmaceuticals in the first quarter valued at about $80,000. Institutional investors own 98.39% of the company's stock.

Rocket Pharmaceuticals Trading Up 0.6%

Shares of RCKT stock opened at $3.28 on Tuesday. Rocket Pharmaceuticals has a 1 year low of $2.19 and a 1 year high of $18.89. The firm's fifty day simple moving average is $3.20 and its 200 day simple moving average is $4.43. The firm has a market capitalization of $353.91 million, a P/E ratio of -1.31 and a beta of 0.62. The company has a current ratio of 6.39, a quick ratio of 6.39 and a debt-to-equity ratio of 0.05.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its earnings results on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.02). During the same period last year, the company earned ($0.74) EPS. As a group, sell-side analysts predict that Rocket Pharmaceuticals will post -2.83 EPS for the current year.

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.

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