Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives $47.27 Consensus PT from Analysts

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have received a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $47.27.

RCKT has been the subject of a number of research analyst reports. Wedbush initiated coverage on Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Jefferies Financial Group initiated coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $29.00 target price on the stock. Leerink Partners decreased their price target on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Finally, Chardan Capital reiterated a “buy” rating and set a $62.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th.

Insider Transactions at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 11,091 shares of Rocket Pharmaceuticals stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $13.05, for a total transaction of $144,737.55. Following the sale, the chief executive officer now directly owns 707,328 shares in the company, valued at $9,230,630.40. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 13,490 shares of company stock worth $176,045. Company insiders own 28.50% of the company’s stock.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Novo Holdings A S boosted its holdings in shares of Rocket Pharmaceuticals by 4.8% in the second quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock valued at $23,683,000 after acquiring an additional 50,000 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Rocket Pharmaceuticals in the second quarter worth approximately $2,144,000. Mirador Capital Partners LP boosted its stake in Rocket Pharmaceuticals by 403.9% during the 4th quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company’s stock valued at $1,063,000 after purchasing an additional 67,755 shares in the last quarter. First Turn Management LLC increased its position in shares of Rocket Pharmaceuticals by 10.8% during the 3rd quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock valued at $11,476,000 after purchasing an additional 60,317 shares during the period. Finally, Walleye Capital LLC bought a new stake in shares of Rocket Pharmaceuticals in the 3rd quarter worth $2,556,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Rocket Pharmaceuticals Price Performance

Shares of RCKT stock opened at $10.71 on Thursday. The firm has a fifty day moving average of $12.32 and a two-hundred day moving average of $16.78. The firm has a market cap of $976.29 million, a P/E ratio of -3.89 and a beta of 1.01. Rocket Pharmaceuticals has a 1-year low of $10.07 and a 1-year high of $31.47. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.07. As a group, research analysts anticipate that Rocket Pharmaceuticals will post -2.83 earnings per share 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.