Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives Consensus ‘Moderate Buy’ Rating from Analysts
Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT – Get Rating) earned a consensus “moderate buy” recommendation from the ten rating companies that currently cover the stock, MarketBeat reports. One research analyst rated the stock with a sell rating and eight gave the company a buy rating. The average 1-year target price among brokerages that have issued ratings on the stock in the past year is $60.71.
A number of analysts have recently weighed in on RCKT shares. SVB Leerink lowered its price target on Rocket Pharmaceuticals shares from $65.00 to $60.00 and set an “outperform” rating for the company in a Friday, September 30 report. UBS Group lowered its price target on Rocket Pharmaceuticals shares from $68.00 to $62.00 and set a “buy” rating for the company in a Tuesday, September 27 report. Chardan Capital raised its price target on shares of Rocket Pharmaceuticals from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, September 30. Raymond James raised his price target on shares of Rocket Pharmaceuticals from $24.00 to $34.00 and gave the stock an “outperform” rating in a Monday, Oct. 3 report. Finally, Evercore ISI raised its price target on Rocket Pharmaceuticals shares from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, September 30.
In related news, Director Rtw Investments, Lp acquired 1,355,932 shares of the company in a transaction that took place on Thursday October 6th. The shares were acquired at an average cost of $14.75 per share, with a total value of $19,999,997.00. Following the transaction, the administrator now owns 17,628,567 shares of the company, valued at approximately $260,021,363.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. 33.67% of the shares are held by insiders of the company.
Institutional investors weigh in on Rocket Pharmaceuticals
Several institutional investors have recently increased or reduced their stake in the stock. WCM Investment Management LLC increased its position in Rocket Pharmaceuticals by 5.4% in Q3. WCM Investment Management LLC now owns 390,930 shares of the biotech company valued at $5,489,000 after acquiring 20,181 additional shares last quarter. Legal & General Group Plc increased its position in Rocket Pharmaceuticals by 31.2% in the 2nd quarter. Legal & General Group Plc now owns 38,973 shares of the biotech company worth $536,000 after buying 9,274 more shares last quarter. PDT Partners LLC increased its position in Rocket Pharmaceuticals by 75.5% during the 2nd quarter. PDT Partners LLC now owns 112,729 shares of the biotech company worth $1,551,000 after purchasing an additional 48,505 shares last quarter. Millennium Management LLC increased its position in Rocket Pharmaceuticals by 323.2% during the 2nd quarter. Millennium Management LLC now owns 97,610 shares of the biotech company worth $1,343,000 after buying an additional 74,545 shares last quarter. Finally, Alpha Paradigm Partners LLC increased its position in Rocket Pharmaceuticals by 222.7% during the 2nd quarter. Alpha Paradigm Partners LLC now owns 110,145 shares of the biotech company worth $1,516,000 after buying an additional 76,009 shares last quarter. 98.02% of the shares are held by institutional investors.
Rocket Pharmaceuticals stock performance
Shares of Rocket Pharmaceuticals opened at $17.48 on Friday. The company has a debt ratio of 0.05, a current ratio of 13.41 and a quick ratio of 13.41. The company has a market capitalization of $1.15 billion, a P/E ratio of -5.87 and a beta of 1.50. The company has a 50-day simple moving average of $15.89 and a 200-day simple moving average of $14.07. Rocket Pharmaceuticals has a fifty-two week low of $7.57 and a fifty-two week high of $36.87.
Rocket Pharmaceuticals (NASDAQ:RCKT – Get Rating) last released its quarterly results on Monday, August 8. The biotech company reported ($0.83) earnings per share for the quarter, missing analyst consensus estimates of ($0.68) by ($0.15). In the same quarter last year, the company achieved EPS of ($0.55). Sell-side analysts expect Rocket Pharmaceuticals to post earnings per share of -2.91 for the current fiscal year.
Rocket Pharmaceuticals Company Profile
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Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company focused on the development of 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 blood cell production or promotes the production of defective blood cells; leukocyte-I adhesion deficiency, a genetic disorder that causes immune system dysfunction; and pyruvate kinase deficiency, a rare autosomal recessive red blood cell disorder that results in chronic non-spherocytic hemolytic anemia.
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