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

Key Points

• Rocket Pharmaceuticals has received a consensus recommendation of "Hold" from seventeen ratings firms, with one analyst suggesting a sell and seven recommending a buy.
• The stock has an average 12-month target price of $16.40, while it opened at $2.86 on Monday with a one-year range of $2.19 to $22.01.
• Recent earnings showed a loss of ($0.59) per share, missing the consensus estimate, while institutional investors now hold 98.39% of the company's stock.

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) has received an average recommendation of "Hold" from the seventeen ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $16.3333.

Several equities analysts have recently issued reports on the company. Leerink Partnrs cut Rocket Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 27th. Needham & Company LLC reissued a "hold" rating on shares of Rocket Pharmaceuticals in a research note on Thursday, July 24th. Chardan Capital reduced their target price on Rocket Pharmaceuticals from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Monday. Evercore ISI lowered Rocket Pharmaceuticals from an "outperform" rating to an "in-line" rating and set a $5.00 price target on the stock. in a research report on Friday, May 30th. Finally, BMO Capital Markets dropped their price target on Rocket Pharmaceuticals from $30.00 to $8.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th.

Rocket Pharmaceuticals Trading Up 5.7%

Rocket Pharmaceuticals stock traded up $0.17 during trading hours on Monday, reaching $3.08. The company had a trading volume of 2,274,588 shares, compared to its average volume of 3,353,092. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.39 and a quick ratio of 9.19. Rocket Pharmaceuticals has a 12-month low of $2.19 and a 12-month high of $22.01. The firm has a market cap of $331.80 million, a price-to-earnings ratio of -1.23 and a beta of 0.65. The company has a 50-day moving average price of $2.95 and a 200 day moving average price of $6.03.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its earnings results on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.02). During the same quarter in the previous year, the firm earned ($0.74) earnings per share. Equities analysts forecast that Rocket Pharmaceuticals will post -2.83 earnings per share for the current year.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its holdings in shares of Rocket Pharmaceuticals by 4.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company's stock valued at $408,000 after purchasing an additional 1,280 shares in the last quarter. Virtus ETF Advisers LLC lifted its holdings in shares of Rocket Pharmaceuticals by 40.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company's stock valued at $71,000 after purchasing an additional 1,628 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Rocket Pharmaceuticals by 16.1% during the first quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company's stock valued at $80,000 after purchasing an additional 1,658 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Rocket Pharmaceuticals by 8.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,885 shares of the biotechnology company's stock valued at $146,000 after purchasing an additional 1,689 shares in the last quarter. Finally, Covestor Ltd lifted 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 purchasing an additional 1,990 shares in the last quarter. 98.39% of the stock is 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.