Rocket Pharmaceuticals (NASDAQ:RCKT) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research report report published on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $29.00 target price on the biotechnology company’s stock.

Several other brokerages have also issued reports on RCKT. Canaccord Genuity Group restated a “buy” rating and issued a $39.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Chardan Capital reiterated a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Leerink Partners lowered their price target on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Finally, Scotiabank initiated coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.80.

Rocket Pharmaceuticals Trading Up 1.9 %

NASDAQ:RCKT opened at $11.56 on Wednesday. Rocket Pharmaceuticals has a 12 month low of $11.15 and a 12 month high of $32.53. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $15.22 and its 200 day moving average is $18.67. The stock has a market capitalization of $1.05 billion, a PE ratio of -4.20 and a beta of 1.01.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $13.05, for a total value of $144,737.55. Following the sale, the chief executive officer now 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 at this link. Insiders have sold 13,490 shares of company stock worth $176,045 in the last three months. 28.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in Rocket Pharmaceuticals by 22.8% during the third quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock valued at $207,642,000 after purchasing an additional 2,086,424 shares during the last quarter. State Street Corp raised its position in shares of Rocket Pharmaceuticals by 11.6% during the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after buying an additional 322,156 shares in the last quarter. First Turn Management LLC lifted its holdings in shares of Rocket Pharmaceuticals by 123.6% during the 2nd quarter. First Turn Management LLC now owns 560,989 shares of the biotechnology company’s stock worth $12,078,000 after acquiring an additional 310,119 shares during the last quarter. Maverick Capital Ltd. grew its position in Rocket Pharmaceuticals by 4.8% in the third quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock worth $76,072,000 after acquiring an additional 190,360 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in 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 valued at $83,001,000 after acquiring an additional 165,911 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors.

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.