Rocket Pharmaceuticals (NASDAQ:RCKT) Announces Earnings Results

Rocket Pharmaceuticals (NASDAQ:RCKT) announced its quarterly earnings results on Monday. The biotechnology company reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.01, Briefing.com reports. During the same quarter in the prior year, the business posted ($0.73) earnings per share.

Rocket Pharmaceuticals Price Performance

Shares of RCKT opened at $23.36 on Wednesday. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -7.95 and a beta of 1.12. Rocket Pharmaceuticals has a 1-year low of $14.89 and a 1-year high of $32.53. The company’s fifty day simple moving average is $25.59 and its 200 day simple moving average is $25.79. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, March 1st. The Goldman Sachs Group assumed coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th. StockNews.com upgraded shares of Rocket Pharmaceuticals to a “sell” rating in a report on Friday, February 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $53.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $52.13.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider Kinnari Patel sold 7,132 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $29.84, for a total value of $212,818.88. Following the transaction, the insider now directly owns 238,346 shares in the company, valued at $7,112,244.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Rocket Pharmaceuticals news, General Counsel Martin Wilson sold 3,576 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $29.84, for a total value of $106,707.84. Following the transaction, the general counsel now directly owns 6,136 shares in the company, valued at $183,098.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kinnari Patel sold 7,132 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $29.84, for a total transaction of $212,818.88. Following the completion of the transaction, the insider now owns 238,346 shares in the company, valued at $7,112,244.64. The disclosure for this sale can be found here. Insiders have sold a total of 414,935 shares of company stock worth $11,476,424 over the last ninety days. Insiders own 31.10% 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.