Rocket Pharmaceuticals (NASDAQ:RCKT) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Rocket Pharmaceuticals (NASDAQ:RCKT) from a hold rating to a sell rating in a research report released on Sunday.

A number of other equities analysts have also recently issued reports on RCKT. JPMorgan Chase & Co. cut Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a report on Tuesday, November 18th. The Goldman Sachs Group upped their price target on Rocket Pharmaceuticals to $3.00 and gave the company a “sell” rating in a research report on Monday, March 2nd. Cantor Fitzgerald lifted their price objective on Rocket Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, February 27th. TD Cowen upgraded shares of Rocket Pharmaceuticals to a “hold” rating in a research note on Friday, December 19th. Finally, Morgan Stanley set a $5.00 target price on shares of Rocket Pharmaceuticals in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.79.

Rocket Pharmaceuticals Price Performance

Shares of Rocket Pharmaceuticals stock opened at $4.41 on Friday. The firm has a market cap of $478.79 million, a P/E ratio of -2.19 and a beta of 0.39. The firm’s 50-day simple moving average is $3.74 and its 200-day simple moving average is $3.50. Rocket Pharmaceuticals has a twelve month low of $2.19 and a twelve month high of $9.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 6.38 and a current ratio of 6.38.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.04. During the same quarter last year, the business posted ($0.62) earnings per share. As a group, research analysts expect that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Martin Wilson sold 12,253 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $3.31, for a total transaction of $40,557.43. Following the sale, the general counsel owned 683,376 shares in the company, valued at approximately $2,261,974.56. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gaurav Shah sold 12,279 shares of the firm’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $3.31, for a total value of $40,643.49. Following the completion of the sale, the chief executive officer owned 1,052,045 shares of the company’s stock, valued at approximately $3,482,268.95. This trade represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 29,415 shares of company stock worth $97,398. Insiders own 24.76% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. acquired a new position in shares of Rocket Pharmaceuticals during the second quarter worth approximately $25,000. Franklin Resources Inc. bought a new position in Rocket Pharmaceuticals in the 4th quarter worth approximately $38,000. Sequoia Financial Advisors LLC bought a new position in Rocket Pharmaceuticals in the 4th quarter worth approximately $42,000. CANADA LIFE ASSURANCE Co raised its position in Rocket Pharmaceuticals by 94.4% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 5,926 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Rocket Pharmaceuticals during the 3rd quarter worth $40,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.

The company’s pipeline comprises multiple product candidates in various stages of development.