Brokerages Set Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) PT at $15.47

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have received a consensus recommendation of “Hold” from the eighteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $15.4667.

A number of brokerages recently issued reports on RCKT. Chardan Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, October 14th. Leerink Partners cut their target price on Rocket Pharmaceuticals from $9.00 to $7.00 and set a “market perform” rating on the stock in a report on Friday, October 3rd. JPMorgan Chase & Co. cut Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a research report on Tuesday, November 18th. Bank of America decreased their price target on Rocket Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Rocket Pharmaceuticals in a report on Wednesday, October 8th.

Insider Buying and Selling

In other news, insider John Militello sold 28,918 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $3.96, for a total value of $114,515.28. Following the transaction, the insider owned 67,006 shares of the company’s stock, valued at $265,343.76. This trade represents a 30.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 24.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RCKT. Hudson Bay Capital Management LP raised its holdings in Rocket Pharmaceuticals by 26.6% in the 3rd quarter. Hudson Bay Capital Management LP now owns 34,700 shares of the biotechnology company’s stock worth $113,000 after acquiring an additional 7,300 shares during the period. CIBC Bancorp USA Inc. bought a new stake in Rocket Pharmaceuticals during the third quarter valued at about $47,000. Voleon Capital Management LP grew its position in shares of Rocket Pharmaceuticals by 70.0% in the third quarter. Voleon Capital Management LP now owns 68,037 shares of the biotechnology company’s stock valued at $222,000 after purchasing an additional 28,010 shares during the last quarter. Newtyn Management LLC increased its stake in shares of Rocket Pharmaceuticals by 25.1% in the third quarter. Newtyn Management LLC now owns 2,502,863 shares of the biotechnology company’s stock worth $8,159,000 after purchasing an additional 502,863 shares during the period. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Rocket Pharmaceuticals in the third quarter worth about $50,000. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Price Performance

Shares of RCKT opened at $3.43 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.30 and a current ratio of 7.30. The firm has a market cap of $371.19 million, a PE ratio of -1.52 and a beta of 0.66. The firm’s 50 day moving average price is $3.45 and its 200 day moving average price is $3.21. Rocket Pharmaceuticals has a twelve month low of $2.19 and a twelve month high of $13.35.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Thursday, November 6th. The biotechnology company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.03. During the same quarter in the prior year, the company earned ($0.71) earnings per share. As a group, research analysts expect that Rocket Pharmaceuticals will post -2.83 EPS 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.