Rocket Pharmaceuticals (NASDAQ:RCKT) Now Covered by Wedbush

Equities researchers at Wedbush started coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $32.00 price target on the biotechnology company’s stock. Wedbush’s price target suggests a potential upside of 172.34% from the company’s previous close.

Several other equities analysts have also recently weighed in on RCKT. Jefferies Financial Group initiated coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $29.00 target price for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $39.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Chardan Capital restated a “buy” rating and set a $62.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Leerink Partners cut their target price on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $52.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.27.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ RCKT opened at $11.75 on Monday. The stock has a market capitalization of $1.07 billion, a PE ratio of -4.27 and a beta of 1.01. Rocket Pharmaceuticals has a 52 week low of $11.15 and a 52 week high of $32.53. The stock has a 50 day moving average price of $14.50 and a 200 day moving average price of $18.15. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05.

Insider Transactions at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 11,091 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $13.05, for a total value of $144,737.55. Following the transaction, the chief executive officer now directly owns 707,328 shares in the company, valued at approximately $9,230,630.40. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 13,490 shares of company stock worth $176,045. Company insiders own 28.50% of the company’s stock.

Institutional Trading of Rocket Pharmaceuticals

A number of institutional investors have recently bought and sold shares of RCKT. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Rocket Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 582 shares during the period. Values First Advisors Inc. acquired a new stake in Rocket Pharmaceuticals during the third quarter worth approximately $108,000. SG Americas Securities LLC bought a new position in Rocket Pharmaceuticals during the 3rd quarter worth $113,000. XTX Topco Ltd acquired a new position in Rocket Pharmaceuticals in the 3rd quarter valued at $286,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter worth $290,000. Institutional investors own 98.39% of the company’s stock.

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.