Brokerages Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) PT at $37.73

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) has received an average recommendation of "Hold" from the seventeen analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $22.46.

Several equities research analysts have recently commented on RCKT shares. Wedbush restated an "outperform" rating and set a $32.00 price objective on shares of Rocket Pharmaceuticals in a report on Friday, May 16th. Leerink Partners restated a "market perform" rating and set a $8.00 price objective (down previously from $37.00) on shares of Rocket Pharmaceuticals in a report on Wednesday. Canaccord Genuity Group lowered their target price on shares of Rocket Pharmaceuticals from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, May 12th. UBS Group reiterated a "buy" rating on shares of Rocket Pharmaceuticals in a research note on Wednesday. Finally, Jefferies Financial Group restated a "hold" rating on shares of Rocket Pharmaceuticals in a report on Wednesday.

Insider Buying and Selling

In related news, CFO Aaron Ondrey sold 7,489 shares of Rocket Pharmaceuticals stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $5.29, for a total transaction of $39,616.81. Following the completion of the sale, the chief financial officer now owns 129,650 shares of the company's stock, valued at $685,848.50. The trade was a 5.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gaurav Shah bought 20,000 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The stock was purchased at an average price of $5.08 per share, for a total transaction of $101,600.00. Following the transaction, the chief executive officer now owns 792,680 shares of the company's stock, valued at $4,026,814.40. The trade was a 2.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. 24.76% of the stock is currently owned by insiders.

Institutional Trading of Rocket Pharmaceuticals

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in shares of Rocket Pharmaceuticals by 24.5% during the 4th quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company's stock valued at $175,919,000 after buying an additional 2,753,033 shares during the last quarter. Vanguard Group Inc. boosted its position in Rocket Pharmaceuticals by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,617,784 shares of the biotechnology company's stock worth $44,141,000 after purchasing an additional 40,189 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Rocket Pharmaceuticals by 2.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 4,820,701 shares of the biotechnology company's stock valued at $32,154,000 after purchasing an additional 106,091 shares during the period. Janus Henderson Group PLC increased its holdings in Rocket Pharmaceuticals by 111.0% in the fourth quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company's stock valued at $50,343,000 after buying an additional 2,106,699 shares in the last quarter. Finally, Suvretta Capital Management LLC acquired a new position in Rocket Pharmaceuticals in the 4th quarter worth about $32,267,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Trading Up 5.6%

Rocket Pharmaceuticals stock traded up $0.14 during trading hours on Wednesday, hitting $2.62. The stock had a trading volume of 10,045,193 shares, compared to its average volume of 1,846,466. The business's 50 day simple moving average is $6.32 and its 200-day simple moving average is $9.58. 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 has a one year low of $2.19 and a one year high of $26.98. The stock has a market cap of $279.78 million, a price-to-earnings ratio of -0.95 and a beta of 1.02.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last released its earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.58) by $0.02. During the same quarter last year, the company posted ($0.66) EPS. On average, equities analysts predict that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal 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.