Rocket Pharmaceuticals (NASDAQ:RCKT) Given New $13.00 Price Target at The Goldman Sachs Group

Rocket Pharmaceuticals (NASDAQ:RCKT) had its price target cut by The Goldman Sachs Group from $15.00 to $13.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

RCKT has been the topic of several other research reports. Canaccord Genuity Group decreased their price target on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. BMO Capital Markets started coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 price target on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 9th. Chardan Capital reduced their price objective on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Scotiabank boosted their target price on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rocket Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $41.09.

Rocket Pharmaceuticals Price Performance

RCKT stock opened at $6.97 on Friday. The company has a fifty day simple moving average of $7.15 and a two-hundred day simple moving average of $10.70. Rocket Pharmaceuticals has a 52 week low of $4.55 and a 52 week high of $26.98. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $744.30 million, a P/E ratio of -2.53 and a beta of 1.02.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.03. During the same period in the previous year, the business posted ($0.66) earnings per share. Analysts anticipate that Rocket Pharmaceuticals will post -2.83 earnings per share for the current fiscal year.

Insider Transactions at Rocket Pharmaceuticals

In related news, CFO Aaron Ondrey sold 7,489 shares of the firm’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $5.29, for a total transaction of $39,616.81. Following the sale, the chief financial officer now owns 129,650 shares of the company’s stock, valued at $685,848.50. This trade represents a 5.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gaurav Shah bought 20,000 shares of Rocket Pharmaceuticals stock in a transaction on Thursday, April 10th. The stock was purchased at an average price of $5.08 per share, with a total value of $101,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 792,680 shares of the company’s stock, valued at $4,026,814.40. This represents a 2.59 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 28.50% of the company’s stock.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Covestor Ltd boosted its position in shares of Rocket Pharmaceuticals by 33,166.7% in the 4th quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 1,990 shares in the last quarter. Signaturefd LLC raised its stake in Rocket Pharmaceuticals by 83.6% in the first quarter. Signaturefd LLC now owns 9,024 shares of the biotechnology company’s stock valued at $60,000 after buying an additional 4,108 shares during the last quarter. Harbour Investments Inc. boosted its holdings in Rocket Pharmaceuticals by 51.9% in the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock worth $68,000 after acquiring an additional 1,840 shares in the last quarter. KBC Group NV grew its stake in shares of Rocket Pharmaceuticals by 159.6% during the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 3,366 shares during the last quarter. Finally, Virtus ETF Advisers LLC increased its holdings in shares of Rocket Pharmaceuticals by 40.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 1,628 shares in the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.

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.