Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $43.00.

Several analysts recently commented on RCKT shares. Needham & Company LLC reduced their price objective on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Jefferies Financial Group started coverage on Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They set a “buy” rating and a $29.00 price target on the stock. Chardan Capital dropped their price objective on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group decreased their target price on Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, Scotiabank upped their target price on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in shares of Rocket Pharmaceuticals by 796.2% during the fourth quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company’s stock worth $690,000 after buying an additional 48,793 shares in the last quarter. Jennison Associates LLC boosted its position in Rocket Pharmaceuticals by 72.6% during the fourth quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company’s stock worth $884,000 after acquiring an additional 29,564 shares during the last quarter. Mirador Capital Partners LP grew its stake in Rocket Pharmaceuticals by 403.9% in the 4th quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company’s stock worth $1,063,000 after acquiring an additional 67,755 shares during the period. Sovran Advisors LLC acquired a new position in Rocket Pharmaceuticals in the 4th quarter valued at $1,895,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Rocket Pharmaceuticals during the 4th quarter worth $141,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $5.19 on Tuesday. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals has a 12-month low of $4.60 and a 12-month high of $26.98. The company has a market cap of $553.41 million, a price-to-earnings ratio of -1.89 and a beta of 1.00. The stock has a 50 day simple moving average of $9.05 and a 200-day simple moving average of $12.58.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.06. On average, equities analysts forecast that Rocket Pharmaceuticals will post -2.83 EPS for the current 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.