Cowen reissued their buy rating on shares of Rocket Pharmaceuticals (NASDAQ:RCKT) in a research note published on Wednesday, May 8th, AnalystRatings.com reports.
“Catalysts .Financial Rating — Buy Target Price — $124.00 FY18A EPS — $(2.50) Revenue — $5.0 FY19E Revenue — $0.0 Price ( 05/08/19 ): $70.23 52-Week Range: $110 – $54 1,692.5 Shr.O/S-Diluted (mm): 24.1 238,452 Dividend / Yield: $0.00 / 0.0% Cash (mm): $484 Price: Intraday 5-8-19.”,” Cowen’s analyst wrote.
A number of other brokerages have also recently commented on RCKT. William Blair reaffirmed a buy rating on shares of Rocket Pharmaceuticals in a report on Wednesday, May 1st. ValuEngine raised shares of Rocket Pharmaceuticals from a hold rating to a buy rating in a report on Wednesday, April 24th. Robert W. Baird assumed coverage on shares of Rocket Pharmaceuticals in a report on Monday, April 22nd. They set an outperform rating for the company. Oppenheimer set a $39.00 price target on shares of Rocket Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, March 19th. Finally, Bank of America assumed coverage on shares of Rocket Pharmaceuticals in a research report on Friday, March 15th. They issued a buy rating and a $27.00 price target for the company. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $29.33.
Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.20. As a group, research analysts predict that Rocket Pharmaceuticals will post -2.15 EPS for the current fiscal year.
In related news, insider Gaurav Shah sold 74,900 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total transaction of $1,286,033.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rtw Investments, Lp bought 550,005 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were bought at an average price of $17.50 per share, with a total value of $9,625,087.50. The disclosure for this purchase can be found here. Corporate insiders own 47.67% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Group One Trading L.P. lifted its position in Rocket Pharmaceuticals by 103.6% during the first quarter. Group One Trading L.P. now owns 1,999 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 1,017 shares during the last quarter. Legal & General Group Plc lifted its position in Rocket Pharmaceuticals by 23.3% during the fourth quarter. Legal & General Group Plc now owns 3,904 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 739 shares during the last quarter. BNP Paribas Arbitrage SA bought a new position in Rocket Pharmaceuticals during the first quarter valued at $87,000. Nisa Investment Advisors LLC bought a new position in Rocket Pharmaceuticals during the fourth quarter valued at $79,000. Finally, Strs Ohio lifted its position in Rocket Pharmaceuticals by 12.5% during the first quarter. Strs Ohio now owns 6,300 shares of the biotechnology company’s stock valued at $110,000 after purchasing an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 85.16% of the company’s stock.
Rocket Pharmaceuticals Company Profile
Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company that focuses on developing gene therapies for rare and devastating pediatric diseases. It has clinical-stage lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; and leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction It also has additional pre-clinical stage LVV programs include pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia; and infantile malignant osteopetrosis, a genetic disorder characterized by increased bone density and bone mass secondary to impaired bone resorption.
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