Analysts Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Target Price at $54.80

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKTGet Free Report) have earned a consensus rating of “Buy” from the seven analysts that are covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $54.80.

A number of equities research analysts have commented on the stock. Lifesci Capital reissued an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, December 26th. Needham & Company LLC reissued a “buy” rating and issued a $53.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 7th. StockNews.com raised shares of Rocket Pharmaceuticals to a “sell” rating in a research report on Friday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Wednesday, January 31st.

Read Our Latest Analysis on Rocket Pharmaceuticals

Insider Transactions at Rocket Pharmaceuticals

In other news, Director Gotham Makker sold 20,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $22.53, for a total value of $450,600.00. Following the completion of the sale, the director now owns 1,296,497 shares in the company, valued at approximately $29,210,077.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 31.10% of the company’s stock.

Institutional Trading of Rocket Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Capstone Investment Advisors LLC purchased a new position in Rocket Pharmaceuticals during the 4th quarter valued at about $217,000. TD Asset Management Inc increased its holdings in Rocket Pharmaceuticals by 38.2% during the 4th quarter. TD Asset Management Inc now owns 154,864 shares of the biotechnology company’s stock valued at $4,641,000 after acquiring an additional 42,834 shares in the last quarter. Franklin Resources Inc. increased its holdings in Rocket Pharmaceuticals by 60.8% during the 4th quarter. Franklin Resources Inc. now owns 1,072,910 shares of the biotechnology company’s stock valued at $32,155,000 after acquiring an additional 405,855 shares in the last quarter. Norges Bank purchased a new position in Rocket Pharmaceuticals during the 4th quarter valued at about $7,293,000. Finally, EFG Asset Management North America Corp. increased its holdings in Rocket Pharmaceuticals by 2.7% during the 4th quarter. EFG Asset Management North America Corp. now owns 155,205 shares of the biotechnology company’s stock valued at $4,645,000 after acquiring an additional 4,137 shares in the last quarter. Institutional investors and hedge funds own 94.49% of the company’s stock.

Rocket Pharmaceuticals Price Performance

Rocket Pharmaceuticals stock opened at $29.99 on Thursday. The firm has a market cap of $2.70 billion, a PE ratio of -9.31 and a beta of 1.11. Rocket Pharmaceuticals has a 52-week low of $14.89 and a 52-week high of $32.53. The company has a quick ratio of 13.35, a current ratio of 13.35 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average is $28.43 and its two-hundred day moving average is $22.19.

About Rocket Pharmaceuticals

(Get Free Report

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform 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.

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Analyst Recommendations for Rocket Pharmaceuticals (NASDAQ:RCKT)

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