Chardan Capital Forecasts Strong Price Appreciation for Rocket Pharmaceuticals (NASDAQ:RCKT) Stock

Rocket Pharmaceuticals (NASDAQ:RCKT) had its price objective boosted by investment analysts at Chardan Capital from $45.00 to $46.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Chardan Capital also issued estimates for Rocket Pharmaceuticals’ FY2025 earnings at ($2.32) EPS and FY2026 earnings at ($2.05) EPS.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price objective on shares of Rocket Pharmaceuticals from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Scotiabank cut their price target on shares of Rocket Pharmaceuticals from $52.00 to $51.00 and set a “sector outperform” rating for the company in a report on Monday. BMO Capital Markets assumed coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price target on the stock. Canaccord Genuity Group lowered their price objective on shares of Rocket Pharmaceuticals from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Monday. Finally, The Goldman Sachs Group cut their target price on Rocket Pharmaceuticals from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Rocket Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $40.91.

Rocket Pharmaceuticals Trading Up 11.1%

Shares of RCKT stock opened at $6.72 on Friday. The stock has a market cap of $717.60 million, a P/E ratio of -2.44 and a beta of 1.02. Rocket Pharmaceuticals has a 1 year low of $4.55 and a 1 year high of $26.98. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $6.97 and a 200 day simple moving average of $10.40.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.02. During the same period last year, the firm earned ($0.66) earnings per share. On average, research analysts predict that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kinnari Patel bought 21,099 shares of the stock in a transaction on Wednesday, April 9th. The stock was acquired at an average price of $4.70 per share, with a total value of $99,165.30. Following the acquisition, the insider now directly owns 26,774 shares in the company, valued at approximately $125,837.80. This trade represents a 371.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gaurav Shah purchased 20,000 shares of the business’s stock in a transaction dated Thursday, April 10th. The shares were purchased at an average cost of $5.08 per share, for a total transaction of $101,600.00. Following the completion of the purchase, the chief executive officer now directly owns 792,680 shares of the company’s stock, valued at approximately $4,026,814.40. This represents a 2.59% increase in their position. The disclosure for this purchase can be found here. Insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Rocket Pharmaceuticals by 7.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 237,499 shares of the biotechnology company’s stock worth $2,985,000 after purchasing an additional 16,453 shares during the period. SG Americas Securities LLC grew its position in shares of Rocket Pharmaceuticals by 796.2% in the 4th quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company’s stock valued at $690,000 after buying an additional 48,793 shares during the last quarter. KBC Group NV increased 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. China Universal Asset Management Co. Ltd. raised its position in shares of Rocket Pharmaceuticals by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,329 shares of the biotechnology company’s stock worth $243,000 after acquiring an additional 1,824 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Rocket Pharmaceuticals by 72.6% during the fourth quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company’s stock worth $884,000 after acquiring an additional 29,564 shares during the last quarter. 98.39% of the stock is currently 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.