Brokerages Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) PT at $47.27

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $47.27.

RCKT has been the topic of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Scotiabank began coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Jefferies Financial Group began coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They set a “buy” rating and a $29.00 price target on the stock. Finally, Wedbush began coverage on shares of Rocket Pharmaceuticals in a research report on Monday, December 30th. They set an “outperform” rating and a $32.00 price target on the stock.

Insiders Place Their Bets

In other news, CEO Gaurav Shah sold 11,091 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $13.05, for a total value of $144,737.55. Following the completion of the sale, the chief executive officer now directly owns 707,328 shares of the company’s stock, valued at $9,230,630.40. This represents a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 14,386 shares of company stock valued at $185,345. 28.50% of the stock is currently owned by insiders.

Institutional Trading of Rocket Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Rocket Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 582 shares during the last quarter. KBC Group NV increased its stake in shares of Rocket Pharmaceuticals by 159.6% in the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 3,366 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of Rocket Pharmaceuticals in the 3rd quarter valued at about $108,000. SG Americas Securities LLC bought a new stake in shares of Rocket Pharmaceuticals in the 3rd quarter valued at about $113,000. Finally, Dana Investment Advisors Inc. increased its stake in shares of Rocket Pharmaceuticals by 4.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after acquiring an additional 586 shares during the last quarter. 98.39% of the stock is owned by institutional investors.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ:RCKT opened at $10.71 on Thursday. Rocket Pharmaceuticals has a 52 week low of $10.07 and a 52 week high of $31.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The company’s fifty day moving average is $12.27 and its 200-day moving average is $16.67. The company has a market capitalization of $976.32 million, a PE ratio of -3.89 and a beta of 1.01.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.07. Equities research analysts predict that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

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.