Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $43.00.

A number of brokerages have recently commented on RCKT. The Goldman Sachs Group cut their price objective on Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Canaccord Genuity Group reduced their target price on Rocket Pharmaceuticals from $39.00 to $36.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Chardan Capital dropped their price target on Rocket Pharmaceuticals from $62.00 to $54.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. BMO Capital Markets started coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, March 12th. They set an "outperform" rating and a $50.00 price objective for the company. Finally, Scotiabank boosted their price target on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a "sector outperform" rating in a report on Monday, March 3rd.

Rocket Pharmaceuticals Price Performance

RCKT traded down $1.54 during trading on Friday, reaching $6.31. The stock had a trading volume of 5,897,998 shares, compared to its average volume of 1,377,055. Rocket Pharmaceuticals has a 1-year low of $4.55 and a 1-year high of $26.98. The firm has a market capitalization of $673.82 million, a price-to-earnings ratio of -2.29 and a beta of 1.02. The stock has a 50 day moving average of $7.34 and a two-hundred day moving average of $10.90. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.06. As a group, equities analysts anticipate that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

Insider Transactions at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider Kinnari Patel bought 21,099 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was bought at an average cost of $4.70 per share, with a total value of $99,165.30. Following the completion of the transaction, the insider now directly owns 26,774 shares of the company's stock, valued at approximately $125,837.80. The trade was a 371.79 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gaurav Shah purchased 20,000 shares of the business's stock in a transaction dated Thursday, April 10th. The shares were acquired at an average price of $5.08 per share, for a total transaction of $101,600.00. Following the acquisition, the chief executive officer now directly owns 792,680 shares in the company, valued at $4,026,814.40. This represents a 2.59 % increase in their position. The disclosure for this purchase can be found here. 28.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Rocket Pharmaceuticals by 7.4% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 237,499 shares of the biotechnology company's stock valued at $2,985,000 after acquiring an additional 16,453 shares during the last quarter. Mirador Capital Partners LP boosted its position in Rocket Pharmaceuticals by 403.9% during the fourth quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company's stock worth $1,063,000 after purchasing an additional 67,755 shares during the period. SG Americas Securities LLC grew its holdings in Rocket Pharmaceuticals by 796.2% during the fourth quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company's stock valued at $690,000 after purchasing an additional 48,793 shares during the last quarter. KBC Group NV raised its position in shares of Rocket Pharmaceuticals by 159.6% in the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company's stock valued at $69,000 after purchasing an additional 3,366 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Rocket Pharmaceuticals by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,329 shares of the biotechnology company's stock worth $243,000 after buying an additional 1,824 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors.

About Rocket Pharmaceuticals

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.