Rocket Pharmaceuticals (NASDAQ:RCKT) Posts Earnings Results, Misses Estimates By $0.02 EPS

Rocket Pharmaceuticals (NASDAQ:RCKT) released its quarterly earnings results on Monday. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.02), Briefing.com reports. During the same period in the previous year, the company earned ($0.82) EPS.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ:RCKT opened at $20.13 on Wednesday. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.83 billion, a PE ratio of -7.01 and a beta of 1.13. The company’s fifty day moving average is $22.25 and its 200 day moving average is $24.76. Rocket Pharmaceuticals has a 52 week low of $14.89 and a 52 week high of $32.53.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, insider Mark Andrew White sold 3,026 shares of Rocket Pharmaceuticals stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $20.39, for a total value of $61,700.14. Following the transaction, the insider now owns 72,220 shares in the company, valued at $1,472,565.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Mark Andrew White sold 3,026 shares of Rocket Pharmaceuticals stock in a transaction on Monday, July 8th. The shares were sold at an average price of $20.39, for a total value of $61,700.14. Following the transaction, the insider now directly owns 72,220 shares of the company’s stock, valued at $1,472,565.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gaurav Shah sold 9,790 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $23.35, for a total transaction of $228,596.50. Following the sale, the chief executive officer now directly owns 728,069 shares of the company’s stock, valued at approximately $17,000,411.15. The disclosure for this sale can be found here. Insiders sold a total of 15,755 shares of company stock worth $358,654 over the last three months. Company insiders own 31.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Chardan Capital restated a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday. Canaccord Genuity Group lowered their target price on shares of Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. boosted their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday. William Blair reissued an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Monday, June 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Rocket Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

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.