Chardan Capital Reiterates “Buy” Rating for Rocket Pharmaceuticals (NASDAQ:RCKT)

Chardan Capital reaffirmed their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research report released on Friday, Benzinga reports. The firm currently has a $62.00 target price on the biotechnology company’s stock.

Several other brokerages have also issued reports on RCKT. William Blair reaffirmed an outperform rating on shares of Rocket Pharmaceuticals in a research report on Monday, June 3rd. Needham & Company LLC cut their price objective on shares of Rocket Pharmaceuticals from $53.00 to $52.00 and set a buy rating on the stock in a report on Friday. The Goldman Sachs Group initiated coverage on shares of Rocket Pharmaceuticals in a research report on Tuesday, April 2nd. They issued a neutral rating and a $39.00 price objective for the company. Finally, UBS Group dropped their target price on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a buy rating on the stock in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals currently has a consensus rating of Moderate Buy and a consensus target price of $52.13.

Rocket Pharmaceuticals Price Performance

RCKT opened at $20.66 on Friday. The firm has a market capitalization of $1.88 billion, a PE ratio of -7.20 and a beta of 1.13. The company has a debt-to-equity ratio of 0.04, a current ratio of 10.47 and a quick ratio of 10.47. The business’s 50-day moving average is $22.32 and its two-hundred day moving average is $25.94. Rocket Pharmaceuticals has a 1 year low of $14.89 and a 1 year high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings data on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.01. During the same quarter in the previous year, the company posted ($0.73) earnings per share. Research analysts anticipate that Rocket Pharmaceuticals will post -2.87 earnings per share for the current fiscal year.

Insider Activity at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider Mark Andrew White sold 12,532 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $24.64, for a total transaction of $308,788.48. Following the completion of the transaction, the insider now directly owns 75,226 shares of the company’s stock, valued at approximately $1,853,568.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Rocket Pharmaceuticals news, insider Mark Andrew White sold 12,532 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $24.64, for a total value of $308,788.48. Following the sale, the insider now directly owns 75,226 shares of the company’s stock, valued at $1,853,568.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David P. Southwell sold 70,000 shares of Rocket Pharmaceuticals stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $24.36, for a total value of $1,705,200.00. Following the transaction, the director now owns 95,160 shares of the company’s stock, valued at approximately $2,318,097.60. The disclosure for this sale can be found here. Insiders have sold a total of 105,282 shares of company stock worth $2,551,801 over the last quarter. Insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RCKT. Wellington Management Group LLP grew its stake in shares of Rocket Pharmaceuticals by 2.2% during the 4th quarter. Wellington Management Group LLP now owns 8,197,546 shares of the biotechnology company’s stock worth $245,680,000 after purchasing an additional 174,716 shares during the period. Vanguard Group Inc. boosted its holdings in Rocket Pharmaceuticals by 18.3% during the fourth quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock worth $163,264,000 after buying an additional 843,552 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in Rocket Pharmaceuticals by 1.1% during the first quarter. Westfield Capital Management Co. LP now owns 3,984,030 shares of the biotechnology company’s stock worth $107,330,000 after buying an additional 42,171 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Rocket Pharmaceuticals by 11.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock valued at $79,290,000 after buying an additional 314,086 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Rocket Pharmaceuticals by 174.3% in the first quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock valued at $70,170,000 after buying an additional 1,656,111 shares in the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Company Profile

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.