Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives $54.80 Consensus Target Price from Brokerages

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKTGet Free Report) has been assigned an average recommendation of “Buy” from the seven brokerages that are covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have covered the stock in the last year is $54.80.

Several research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $53.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 7th. Lifesci Capital restated an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Tuesday, December 26th. StockNews.com upgraded shares of Rocket Pharmaceuticals to a “sell” rating in a report on Friday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Wednesday, January 31st.

Check Out Our Latest Report on Rocket Pharmaceuticals

Insider Activity at Rocket Pharmaceuticals

In related news, Director Gotham Makker sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $22.53, for a total value of $450,600.00. Following the completion of the transaction, the director now directly owns 1,296,497 shares of the company’s stock, valued at $29,210,077.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 31.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several large investors have recently modified their holdings of RCKT. Amalgamated Bank raised its position in Rocket Pharmaceuticals by 5.4% in the fourth quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock worth $259,000 after acquiring an additional 440 shares in the last quarter. Metropolitan Life Insurance Co NY increased its position in shares of Rocket Pharmaceuticals by 24.0% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,205 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 621 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Rocket Pharmaceuticals by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company’s stock valued at $105,000 after buying an additional 633 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Rocket Pharmaceuticals by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 17,963 shares of the biotechnology company’s stock valued at $538,000 after buying an additional 661 shares in the last quarter. Finally, Torray Investment Partners LLC increased its position in shares of Rocket Pharmaceuticals by 1.1% in the fourth quarter. Torray Investment Partners LLC now owns 60,856 shares of the biotechnology company’s stock valued at $1,824,000 after buying an additional 679 shares in the last quarter. 94.49% of the stock is owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Stock Up 1.7 %

NASDAQ RCKT opened at $29.99 on Thursday. 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 business’s fifty day simple moving average is $28.43 and its 200-day simple moving average is $22.19. The firm has a market cap of $2.70 billion, a PE ratio of -9.31 and a beta of 1.11.

Rocket Pharmaceuticals Company Profile

(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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