Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives $43.00 Consensus Price Target from Brokerages

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $43.00.

RCKT has been the topic of several recent research reports. Canaccord Genuity Group lowered their price target on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Chardan Capital dropped their target price on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Wedbush started coverage on Rocket Pharmaceuticals in a research note on Monday, December 30th. They issued an “outperform” rating and a $32.00 price target for the company. BMO Capital Markets assumed coverage on Rocket Pharmaceuticals in a research note on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price objective on the stock. Finally, The Goldman Sachs Group cut their price objective on Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating for the company in a report on Monday, March 3rd.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CFO Aaron Ondrey sold 7,489 shares of the 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 transaction, the chief financial officer now owns 129,650 shares in the company, valued at $685,848.50. This trade represents a 5.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kinnari Patel bought 21,099 shares of Rocket Pharmaceuticals stock in a transaction dated Wednesday, April 9th. The stock was acquired at an average cost of $4.70 per share, with a total value of $99,165.30. Following the transaction, the insider now owns 26,774 shares of the company’s stock, valued at $125,837.80. This trade represents a 371.79 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 28.50% of the company’s stock.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of hedge funds have recently bought and sold shares of RCKT. Covestor Ltd boosted its holdings in Rocket Pharmaceuticals by 33,166.7% in the 4th 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 during the period. Signaturefd LLC raised its position in shares of Rocket Pharmaceuticals by 319.8% in the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock valued at $62,000 after buying an additional 3,745 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Rocket Pharmaceuticals by 51.9% in the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock valued at $68,000 after buying an additional 1,840 shares during the period. KBC Group NV boosted its stake in shares of Rocket Pharmaceuticals by 159.6% in the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock valued at $69,000 after buying an additional 3,366 shares during the period. Finally, Virtus ETF Advisers LLC grew its position in Rocket Pharmaceuticals by 40.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company’s stock worth $71,000 after buying an additional 1,628 shares in the last quarter. 98.39% of the stock is owned by institutional investors.

Rocket Pharmaceuticals Stock Down 8.5 %

NASDAQ:RCKT opened at $4.94 on Tuesday. The stock has a 50-day simple moving average of $8.50 and a 200 day simple moving average of $12.18. Rocket Pharmaceuticals has a 52-week low of $4.55 and a 52-week high of $26.98. The company has a market cap of $526.75 million, a PE ratio of -1.80 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.06. On average, sell-side analysts expect that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

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.