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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) has earned a consensus recommendation of "Hold" from the seventeen ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $18.60.

A number of equities analysts recently issued reports on RCKT shares. Scotiabank cut their target price on Rocket Pharmaceuticals from $51.00 to $19.00 and set a "sector outperform" rating on the stock in a report on Wednesday, May 28th. Bank of America decreased their target price on Rocket Pharmaceuticals from $32.00 to $9.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Needham & Company LLC lowered Rocket Pharmaceuticals from a "buy" rating to a "hold" rating and set a $42.00 price objective for the company. in a report on Tuesday, May 27th. Canaccord Genuity Group reduced their target price on Rocket Pharmaceuticals from $34.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Rocket Pharmaceuticals in a report on Wednesday, May 28th.

Rocket Pharmaceuticals Price Performance

NASDAQ RCKT traded down $0.30 during trading on Thursday, hitting $3.04. 3,991,683 shares of the company's stock were exchanged, compared to its average volume of 2,314,628. The company has a current ratio of 9.19, a quick ratio of 9.19 and a debt-to-equity ratio of 0.05. The company has a market cap of $324.64 million, a PE ratio of -1.16 and a beta of 0.67. Rocket Pharmaceuticals has a fifty-two week low of $2.19 and a fifty-two week high of $26.98. The stock's 50 day moving average price is $3.73 and its two-hundred day moving average price is $7.09.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.02. During the same period last year, the company posted ($0.66) earnings per share. Research analysts expect that Rocket Pharmaceuticals will post -2.83 EPS for the current year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd raised its holdings in shares of Rocket Pharmaceuticals by 33,166.7% during the fourth quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 1,990 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Rocket Pharmaceuticals by 7,818.1% in the second quarter. Farther Finance Advisors LLC now owns 13,540 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 13,369 shares in the last quarter. PFG Investments LLC raised its holdings in Rocket Pharmaceuticals by 35.1% in the second quarter. PFG Investments LLC now owns 18,100 shares of the biotechnology company's stock worth $44,000 after purchasing an additional 4,700 shares in the last quarter. Signaturefd LLC raised its holdings in Rocket Pharmaceuticals by 83.6% in the first quarter. Signaturefd LLC now owns 9,024 shares of the biotechnology company's stock worth $60,000 after purchasing an additional 4,108 shares in the last quarter. Finally, Harbour Investments Inc. raised its holdings in Rocket Pharmaceuticals by 51.9% in the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company's stock worth $68,000 after purchasing an additional 1,840 shares in the last quarter. Institutional investors own 98.39% of the company's stock.

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.