Jefferies Financial Group Reiterates "Hold" Rating for Rocket Pharmaceuticals (NASDAQ:RCKT)

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report)'s stock had its "hold" rating reiterated by equities research analysts at Jefferies Financial Group in a research report issued to clients and investors on Wednesday, Marketbeat.com reports.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut their target price on Rocket Pharmaceuticals from $45.00 to $44.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Canaccord Genuity Group lowered their target price 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. Wedbush reaffirmed an "outperform" rating and issued a $32.00 target price on shares of Rocket Pharmaceuticals in a research report on Friday, May 16th. Cantor Fitzgerald lifted their target price on Rocket Pharmaceuticals from $20.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Scotiabank lowered their target price on Rocket Pharmaceuticals from $52.00 to $51.00 and set a "sector outperform" rating on the stock in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Rocket Pharmaceuticals currently has an average rating of "Hold" and a consensus target price of $22.46.

Rocket Pharmaceuticals Stock Performance

Shares of Rocket Pharmaceuticals stock opened at $2.62 on Wednesday. The company has a market capitalization of $279.78 million, a PE ratio of -0.95 and a beta of 1.02. Rocket Pharmaceuticals has a 12 month low of $2.19 and a 12 month high of $26.98. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The stock's fifty day simple moving average is $6.32 and its 200 day simple moving average is $9.58.

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

Insider Transactions at Rocket Pharmaceuticals

In related news, insider Kinnari Patel purchased 21,099 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The stock was acquired at an average cost of $4.70 per share, for a total transaction of $99,165.30. Following the completion of the purchase, the insider now owns 26,774 shares in the company, valued at approximately $125,837.80. This represents a 371.79% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aaron Ondrey sold 7,489 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $5.29, for a total value 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 approximately $685,848.50. This trade represents a 5.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 24.76% of the company's stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its stake in shares of Rocket Pharmaceuticals by 8.4% in the first quarter. Rhumbline Advisers now owns 107,638 shares of the biotechnology company's stock valued at $718,000 after buying an additional 8,299 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Rocket Pharmaceuticals by 24.0% in the first quarter. Goldman Sachs Group Inc. now owns 995,690 shares of the biotechnology company's stock valued at $6,641,000 after buying an additional 192,905 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Rocket Pharmaceuticals during the first quarter valued at approximately $189,000. Millennium Management LLC raised its position in Rocket Pharmaceuticals by 121.8% during the first quarter. Millennium Management LLC now owns 747,147 shares of the biotechnology company's stock valued at $4,983,000 after purchasing an additional 410,238 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Rocket Pharmaceuticals by 148.4% during the first quarter. AQR Capital Management LLC now owns 163,622 shares of the biotechnology company's stock valued at $1,091,000 after purchasing an additional 97,758 shares in the last quarter. 98.39% of the stock is currently 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.