Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Average Rating of “Moderate Buy” by Analysts

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have received a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $47.27.

RCKT has been the subject of several analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $39.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Jefferies Financial Group started coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $29.00 price target on the stock. Leerink Partners reduced their price objective on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Finally, Scotiabank began coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 target price on the stock.

Insider Buying and Selling

In other news, CEO Gaurav Shah sold 11,091 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $13.05, for a total transaction of $144,737.55. Following the completion of the sale, the chief executive officer now directly owns 707,328 shares of the company’s stock, valued at $9,230,630.40. This trade represents a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 13,490 shares of company stock worth $176,045 in the last ninety days. 28.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in Rocket Pharmaceuticals by 22.8% in the 3rd quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock worth $207,642,000 after purchasing an additional 2,086,424 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of Rocket Pharmaceuticals by 3.8% in the third quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock worth $83,001,000 after acquiring an additional 165,911 shares in the last quarter. Maverick Capital Ltd. raised its holdings in shares of Rocket Pharmaceuticals by 4.8% during the third quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock valued at $76,072,000 after acquiring an additional 190,360 shares during the period. State Street Corp raised its holdings in shares of Rocket Pharmaceuticals by 11.6% during the third quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after acquiring an additional 322,156 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Rocket Pharmaceuticals by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock valued at $29,888,000 after acquiring an additional 14,256 shares in the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Trading Down 1.3 %

Rocket Pharmaceuticals stock opened at $12.56 on Friday. Rocket Pharmaceuticals has a 52-week low of $11.15 and a 52-week high of $31.47. 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 $1.14 billion, a price-to-earnings ratio of -4.57 and a beta of 1.01. The firm has a 50-day moving average price of $14.01 and a two-hundred day moving average price of $17.86.

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.