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

Rocket Pharmaceuticals logo with Medical background

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) has been assigned an average recommendation of "Hold" from the seventeen ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $18.60.

A number of equities research analysts have recently issued reports on the stock. Wedbush reissued an "outperform" rating and set a $32.00 price objective on shares of Rocket Pharmaceuticals in a research report on Friday, May 16th. Morgan Stanley reissued an "equal weight" rating and set a $7.00 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 28th. Scotiabank cut their price objective on shares of Rocket Pharmaceuticals from $51.00 to $19.00 and set a "sector outperform" rating for the company in a research report on Wednesday, May 28th. UBS Group cut their price objective on shares of Rocket Pharmaceuticals from $12.00 to $5.00 and set a "buy" rating for the company in a research report on Tuesday, June 17th. Finally, Jefferies Financial Group reissued a "hold" rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 28th.

Read Our Latest Stock Analysis on Rocket Pharmaceuticals

Rocket Pharmaceuticals Trading Down 4.6%

NASDAQ:RCKT opened at $2.70 on Friday. The company has a current ratio of 9.19, a quick ratio of 9.19 and a debt-to-equity ratio of 0.05. Rocket Pharmaceuticals has a 12 month low of $2.19 and a 12 month high of $26.98. The company has a market cap of $288.33 million, a PE ratio of -1.03 and a beta of 0.68. The company has a 50 day simple moving average of $5.31 and a two-hundred day simple moving average of $8.30.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last issued its quarterly earnings data 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 in the prior year, the company posted ($0.66) EPS. Research analysts forecast that Rocket Pharmaceuticals will post -2.83 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Kinnari Patel purchased 21,099 shares of the firm's stock in a transaction on Wednesday, April 9th. The shares were acquired at an average price of $4.70 per share, for a total transaction of $99,165.30. Following the purchase, the insider now directly owns 26,774 shares in the company, valued at $125,837.80. This trade represents a 371.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Aaron Ondrey sold 7,489 shares of the business's stock in a transaction on 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 in the company, valued at approximately $685,848.50. The trade was a 5.46% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.76% of the company's stock.

Institutional Trading of Rocket Pharmaceuticals

A number of large investors have recently made changes to their positions in RCKT. Wellington Management Group LLP increased its holdings in shares of Rocket Pharmaceuticals by 24.5% in the 4th quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company's stock worth $175,919,000 after buying an additional 2,753,033 shares during the last quarter. Suvretta Capital Management LLC bought a new stake in shares of Rocket Pharmaceuticals in the 4th quarter worth about $32,267,000. Janus Henderson Group PLC increased its holdings in shares of Rocket Pharmaceuticals by 111.0% in the 4th quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company's stock worth $50,343,000 after buying an additional 2,106,699 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Rocket Pharmaceuticals by 3,163.9% in the 4th quarter. Point72 Asset Management L.P. now owns 1,569,823 shares of the biotechnology company's stock worth $19,733,000 after buying an additional 1,521,727 shares during the last quarter. Finally, Boxer Capital Management LLC bought a new position in Rocket Pharmaceuticals during the 4th quarter valued at about $18,428,000. 98.39% of the stock is currently owned by institutional investors.

About Rocket Pharmaceuticals

(Get Free Report

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.

Further Reading

Analyst Recommendations for Rocket Pharmaceuticals (NASDAQ:RCKT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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