Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT – Get Free Report)’s share price gapped down before the market opened on Friday after Needham & Company LLC lowered their price target on the stock from $53.00 to $52.00. The stock had previously closed at $21.43, but opened at $19.00. Needham & Company LLC currently has a buy rating on the stock. Rocket Pharmaceuticals shares last traded at $18.67, with a volume of 302,016 shares traded.
A number of other research analysts have also commented on the stock. The Goldman Sachs Group began coverage on shares of Rocket Pharmaceuticals in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 price objective for the company. UBS Group dropped their price target on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Finally, William Blair reissued an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.13.
Insider Activity
In related news, insider Mark Andrew White sold 12,532 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $24.64, for a total value of $308,788.48. Following the transaction, the insider now directly owns 75,226 shares in the company, valued at $1,853,568.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director David P. Southwell sold 10,000 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $24.05, for a total value of $240,500.00. Following the transaction, the director now directly owns 114,784 shares in the company, valued at $2,760,555.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Andrew White sold 12,532 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $24.64, for a total transaction of $308,788.48. Following the completion of the transaction, the insider now owns 75,226 shares in the company, valued at $1,853,568.64. The disclosure for this sale can be found here. Insiders have sold 105,282 shares of company stock valued at $2,551,801 over the last three months. 31.10% of the stock is owned by insiders.
Institutional Investors Weigh In On Rocket Pharmaceuticals
Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Rocket Pharmaceuticals by 7.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 468,206 shares of the biotechnology company’s stock worth $9,594,000 after acquiring an additional 32,836 shares during the period. Rhumbline Advisers raised its holdings in shares of Rocket Pharmaceuticals by 4.7% during the third quarter. Rhumbline Advisers now owns 87,527 shares of the biotechnology company’s stock worth $1,793,000 after acquiring an additional 3,966 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Rocket Pharmaceuticals by 13.6% during the third quarter. PNC Financial Services Group Inc. now owns 16,846 shares of the biotechnology company’s stock worth $345,000 after acquiring an additional 2,014 shares during the period. FMR LLC raised its holdings in shares of Rocket Pharmaceuticals by 27.7% during the third quarter. FMR LLC now owns 342,699 shares of the biotechnology company’s stock worth $7,022,000 after acquiring an additional 74,431 shares during the period. Finally, Synovus Financial Corp raised its holdings in shares of Rocket Pharmaceuticals by 4.6% during the third quarter. Synovus Financial Corp now owns 84,681 shares of the biotechnology company’s stock worth $1,735,000 after acquiring an additional 3,699 shares during the period. 98.39% of the stock is currently owned by institutional investors and hedge funds.
Rocket Pharmaceuticals Trading Up 0.5 %
The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average is $22.41 and its 200 day moving average is $26.02. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -7.23 and a beta of 1.08.
Rocket Pharmaceuticals (NASDAQ:RCKT – Get Free Report) last released its earnings results on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.01. During the same quarter in the prior year, the company posted ($0.73) earnings per share. Equities analysts predict that Rocket Pharmaceuticals, Inc. will post -2.85 earnings per share 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.