Rocket Pharmaceuticals (NASDAQ:RCKT) Announces Earnings Results

Rocket Pharmaceuticals (NASDAQ:RCKT) released its quarterly earnings data on Monday. The biotechnology company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.67) by $0.01, Briefing.com reports. During the same period in the previous year, the firm posted ($0.73) earnings per share.

Rocket Pharmaceuticals Trading Down 1.6 %

NASDAQ RCKT opened at $22.98 on Thursday. The stock’s fifty day moving average price is $25.47 and its 200-day moving average price is $25.77. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.09 billion, a P/E ratio of -8.01 and a beta of 1.12. Rocket Pharmaceuticals has a 12 month low of $14.89 and a 12 month high of $32.53.

Insider Transactions at Rocket Pharmaceuticals

In related news, Director David P. Southwell sold 10,000 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $24.05, for a total transaction of $240,500.00. Following the sale, the director now directly owns 114,784 shares of the company’s stock, valued at approximately $2,760,555.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director David P. Southwell sold 70,000 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $24.36, for a total value of $1,705,200.00. Following the completion of the transaction, the director now owns 95,160 shares in the company, valued at $2,318,097.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Southwell sold 10,000 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $24.05, for a total value of $240,500.00. Following the sale, the director now directly owns 114,784 shares in the company, valued at $2,760,555.20. The disclosure for this sale can be found here. Insiders sold a total of 414,935 shares of company stock valued at $11,476,424 in the last quarter. 31.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on RCKT. UBS Group decreased their target price on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a report on Friday, March 1st. JPMorgan Chase & Co. dropped their target price on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, February 27th. The Goldman Sachs Group initiated coverage on shares of Rocket Pharmaceuticals in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $53.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.13.

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.