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

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

A number of analysts recently issued reports on RCKT shares. The Goldman Sachs Group decreased their price objective on Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Canaccord Genuity Group decreased their price objective on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. 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 objective on the stock. Wedbush assumed coverage on Rocket Pharmaceuticals in a research note on Monday, December 30th. They set an “outperform” rating and a $32.00 price objective on the stock. Finally, Needham & Company LLC decreased their target price on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, February 28th.

Rocket Pharmaceuticals Stock Down 1.7 %

Shares of NASDAQ RCKT opened at $8.32 on Friday. Rocket Pharmaceuticals has a one year low of $8.06 and a one year high of $28.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The business’s fifty day moving average price is $9.93 and its 200-day moving average price is $13.72. The stock has a market capitalization of $887.16 million, a PE ratio of -3.03 and a beta of 1.03.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.06. On average, equities research analysts anticipate that Rocket Pharmaceuticals will post -2.83 EPS for the current year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several institutional investors have recently modified their holdings of RCKT. Wellington Management Group LLP increased its position in shares of Rocket Pharmaceuticals by 24.5% during the 4th quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company’s stock valued at $175,919,000 after purchasing an additional 2,753,033 shares during the last quarter. Suvretta Capital Management LLC bought a new position in shares of Rocket Pharmaceuticals during the 4th quarter valued at about $32,267,000. Janus Henderson Group PLC increased its position in shares of Rocket Pharmaceuticals by 111.0% during the 4th quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company’s stock valued at $50,343,000 after purchasing an additional 2,106,699 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Rocket Pharmaceuticals by 3,163.9% during the 4th quarter. Point72 Asset Management L.P. now owns 1,569,823 shares of the biotechnology company’s stock valued at $19,733,000 after purchasing an additional 1,521,727 shares during the last quarter. Finally, Boxer Capital Management LLC bought a new position in shares of Rocket Pharmaceuticals during the 4th quarter valued at about $18,428,000. 98.39% of the stock is currently owned by 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.