Rocket Pharmaceuticals (NASDAQ:RCKT) Posts Earnings Results, Beats Expectations By $0.01 EPS

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

Rocket Pharmaceuticals Price Performance

RCKT opened at $23.20 on Tuesday. Rocket Pharmaceuticals has a fifty-two week low of $14.89 and a fifty-two week high of $32.53. The firm has a 50-day moving average of $25.74 and a 200 day moving average of $25.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.80 and a current ratio of 7.80. The firm has a market cap of $2.11 billion, a P/E ratio of -7.89 and a beta of 1.12.

Wall Street Analysts Forecast Growth

RCKT has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. UBS Group cut 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. Needham & Company LLC reiterated a “buy” rating and issued a $53.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday. The Goldman Sachs Group began 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. Finally, StockNews.com raised shares of Rocket Pharmaceuticals to a “sell” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.13.

Insiders Place Their Bets

In other news, insider John Militello sold 2,490 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $28.10, for a total transaction of $69,969.00. Following the completion of the transaction, the insider now directly owns 55,239 shares of the company’s stock, valued at approximately $1,552,215.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Rocket Pharmaceuticals news, Director David P. Southwell sold 10,000 shares of the business’s stock in a transaction on Monday, April 15th. The stock was 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Militello sold 2,490 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $28.10, for a total value of $69,969.00. Following the transaction, the insider now directly owns 55,239 shares in the company, valued at approximately $1,552,215.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 414,935 shares of company stock valued at $11,476,424. Company insiders own 31.10% of the company’s stock.

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.