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

Equities research analysts at Jefferies Financial Group began coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $29.00 price target on the biotechnology company’s stock. Jefferies Financial Group’s target price suggests a potential upside of 155.51% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Leerink Partners lowered their target price on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Needham & Company LLC restated a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Canaccord Genuity Group reiterated a “buy” rating and set a $39.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Finally, Chardan Capital reissued a “buy” rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.80.

Rocket Pharmaceuticals Price Performance

RCKT stock opened at $11.35 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The firm has a market cap of $1.03 billion, a P/E ratio of -4.13 and a beta of 1.01. The firm’s fifty day moving average is $15.32 and its 200 day moving average is $18.72. Rocket Pharmaceuticals has a 52 week low of $11.27 and a 52 week high of $32.53.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah sold 11,091 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $13.05, for a total transaction of $144,737.55. Following the sale, the chief executive officer now owns 707,328 shares in the company, valued at approximately $9,230,630.40. The trade was a 1.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 13,490 shares of company stock valued at $176,045. 28.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RCKT. Nisa Investment Advisors LLC increased its stake in shares of Rocket Pharmaceuticals by 31.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 764 shares in the last quarter. EFG Asset Management North America Corp. raised its stake in Rocket Pharmaceuticals by 47.0% during the second quarter. EFG Asset Management North America Corp. now owns 222,046 shares of the biotechnology company’s stock valued at $4,780,000 after buying an additional 71,044 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Rocket Pharmaceuticals by 10.4% in the second quarter. Bank of New York Mellon Corp now owns 239,877 shares of the biotechnology company’s stock worth $5,165,000 after acquiring an additional 22,521 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Rocket Pharmaceuticals by 30.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,092 shares of the biotechnology company’s stock worth $368,000 after acquiring an additional 3,995 shares during the last quarter. Finally, Privium Fund Management B.V. grew its stake in shares of Rocket Pharmaceuticals by 6.8% in the second quarter. Privium Fund Management B.V. now owns 250,980 shares of the biotechnology company’s stock worth $4,964,000 after acquiring an additional 15,930 shares during the last quarter. 98.39% of the stock is owned by hedge funds and other 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.