Rocket Pharmaceuticals (NASDAQ:RCKT) Earns Neutral Rating from JPMorgan Chase & Co.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report)'s stock had its "neutral" rating reaffirmed by analysts at JPMorgan Chase & Co. in a research note issued on Wednesday, Marketbeat Ratings reports.

A number of other brokerages have also weighed in on RCKT. TD Cowen restated a "hold" rating on shares of Rocket Pharmaceuticals in a research note on Tuesday. Morgan Stanley restated an "equal weight" rating and issued a $7.00 target price on shares of Rocket Pharmaceuticals in a research note on Wednesday. Bank of America reduced their price objective on Rocket Pharmaceuticals from $32.00 to $9.00 and set a "buy" rating on the stock in a research report on Wednesday. The Goldman Sachs Group lowered Rocket Pharmaceuticals from a "neutral" rating to a "sell" rating in a research report on Wednesday. Finally, Canaccord Genuity Group reduced their price objective on Rocket Pharmaceuticals from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Rocket Pharmaceuticals presently has an average rating of "Hold" and a consensus target price of $21.21.

Rocket Pharmaceuticals Price Performance

NASDAQ RCKT traded down $0.14 during trading on Wednesday, reaching $2.48. The company's stock had a trading volume of 7,402,317 shares, compared to its average volume of 1,878,766. The stock has a market capitalization of $264.83 million, a PE ratio of -0.90 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The firm has a fifty day moving average of $6.20 and a 200 day moving average of $9.45. Rocket Pharmaceuticals has a one year low of $2.19 and a one year high of $26.98.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share for the quarter, topping analysts' consensus estimates of ($0.58) by $0.02. During the same period in the prior year, the business earned ($0.66) earnings per share. Analysts expect that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

Insider Activity at Rocket Pharmaceuticals

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

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several institutional investors have recently bought and sold shares of RCKT. Rhumbline Advisers lifted its holdings in Rocket Pharmaceuticals by 8.4% in the 1st quarter. Rhumbline Advisers now owns 107,638 shares of the biotechnology company's stock worth $718,000 after buying an additional 8,299 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Rocket Pharmaceuticals by 24.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 995,690 shares of the biotechnology company's stock worth $6,641,000 after buying an additional 192,905 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Rocket Pharmaceuticals in the 1st quarter worth approximately $189,000. Millennium Management LLC lifted its holdings in Rocket Pharmaceuticals by 121.8% in the 1st quarter. Millennium Management LLC now owns 747,147 shares of the biotechnology company's stock worth $4,983,000 after buying an additional 410,238 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Rocket Pharmaceuticals by 148.4% in the 1st quarter. AQR Capital Management LLC now owns 163,622 shares of the biotechnology company's stock worth $1,091,000 after buying an additional 97,758 shares during the period. 98.39% of the stock is currently owned by hedge funds and other 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.