Rocket Pharmaceuticals (NASDAQ:RCKT) Announces Quarterly Earnings Results

Rocket Pharmaceuticals (NASDAQ:RCKT) released its quarterly earnings data on Monday. The biotechnology company reported ($0.66) EPS 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 business posted ($0.73) earnings per share.

Rocket Pharmaceuticals Trading Down 3.1 %

Shares of NASDAQ:RCKT traded down $0.72 during trading on Tuesday, hitting $22.48. The company had a trading volume of 128,822 shares, compared to its average volume of 709,512. Rocket Pharmaceuticals has a one year low of $14.89 and a one year high of $32.53. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -7.77 and a beta of 1.12. The company has a fifty day simple moving average of $25.74 and a two-hundred day simple moving average of $25.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.80 and a quick ratio of 7.80.

Insider Buying and Selling

In other news, CEO Gaurav Shah sold 20,272 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $29.84, for a total transaction of $604,916.48. Following the completion of the transaction, the chief executive officer now directly owns 554,762 shares of the company’s stock, valued at approximately $16,554,098.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Rocket Pharmaceuticals news, insider Kinnari Patel sold 7,132 shares of the 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 transaction, the insider now directly owns 238,346 shares in the company, valued at approximately $7,112,244.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gaurav Shah sold 20,272 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $29.84, for a total value of $604,916.48. Following the transaction, the chief executive officer now owns 554,762 shares of the company’s stock, valued at approximately $16,554,098.08. The disclosure for this sale can be found here. Insiders sold 414,935 shares of company stock valued at $11,476,424 over the last 90 days. Corporate insiders own 31.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RCKT shares. JPMorgan Chase & Co. decreased their price target on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday. UBS Group reduced their price objective on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a report on Friday, March 1st. StockNews.com upgraded shares of Rocket Pharmaceuticals to a “sell” rating in a research report on Friday, February 9th. Finally, The Goldman Sachs Group began coverage on shares of Rocket Pharmaceuticals in a research note on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.