Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Consensus "Hold": Eighteen analysts cover Rocket Pharmaceuticals with a consensus rating of "Hold" (3 sell, 6 hold, 8 buy, 1 strong buy) and an average 12‑month target price of $13.86, well above the recent share price of $3.91.
• Recent results and valuation: the company beat Q4 estimates with EPS of ($0.38) versus ($0.42) expected but remains unprofitable, with analysts forecasting about -$2.83 EPS for the year and a market cap near $426.7 million.
• Insider selling: CEO Gaurav Shah and General Counsel Martin Wilson each sold ~12.3k shares on Feb 13 at $3.31; insiders have sold ~29,415 shares (~$97k) in the last 90 days and collectively own about 24.8% of the stock.

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) has received a consensus rating of "Hold" from the eighteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $13.8571.

Several research firms have recently commented on RCKT. TD Cowen raised Rocket Pharmaceuticals to a "hold" rating in a report on Friday, December 19th. Chardan Capital reissued a "buy" rating and issued a $11.00 price target on shares of Rocket Pharmaceuticals in a report on Friday, March 27th. Morgan Stanley set a $5.00 price objective on Rocket Pharmaceuticals in a research note on Thursday, January 8th. Lifesci Capital raised Rocket Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, February 26th. Finally, Bank of America raised their price objective on Rocket Pharmaceuticals from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Monday, March 30th.

Rocket Pharmaceuticals Stock Up 0.3%

RCKT opened at $3.91 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.38 and a quick ratio of 6.38. The business has a 50 day simple moving average of $4.06 and a 200-day simple moving average of $3.68. The stock has a market capitalization of $426.66 million, a P/E ratio of -1.95 and a beta of 0.57. Rocket Pharmaceuticals has a 12 month low of $2.19 and a 12 month high of $8.26.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.04. During the same period last year, the firm earned ($0.62) earnings per share. On average, equities analysts anticipate that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

Insider Activity at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 12,279 shares of the firm's stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $3.31, for a total value of $40,643.49. Following the completion of the transaction, the chief executive officer directly owned 1,052,045 shares of the company's stock, valued at $3,482,268.95. This trade represents a 1.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Martin Wilson sold 12,253 shares of the firm's stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $3.31, for a total value of $40,557.43. Following the completion of the transaction, the general counsel directly owned 683,376 shares of the company's stock, valued at $2,261,974.56. The trade was a 1.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,415 shares of company stock valued at $97,398 over the last ninety days. 24.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. purchased a new position in Rocket Pharmaceuticals during the second quarter worth $25,000. Franklin Resources Inc. purchased a new position in Rocket Pharmaceuticals during the fourth quarter worth $38,000. Sequoia Financial Advisors LLC purchased a new position in Rocket Pharmaceuticals during the fourth quarter worth $42,000. CANADA LIFE ASSURANCE Co increased its position in Rocket Pharmaceuticals by 94.4% during the second quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company's stock worth $29,000 after buying an additional 5,926 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Rocket Pharmaceuticals during the third quarter worth $40,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Company Profile

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.

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