Rocket Pharmaceuticals (NASDAQ:RCKT) Issues Quarterly Earnings Results

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

Rocket Pharmaceuticals Trading Down 1.6 %

Shares of Rocket Pharmaceuticals stock opened at $22.98 on Thursday. Rocket Pharmaceuticals has a 52-week low of $14.89 and a 52-week high of $32.53. 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 50-day moving average of $25.47 and a 200-day moving average of $25.77. The stock has a market cap of $2.09 billion, a PE ratio of -8.01 and a beta of 1.12.

Insider Buying and Selling at Rocket Pharmaceuticals

In related news, Director Gotham Makker sold 274,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $28.43, for a total transaction of $7,789,820.00. Following the completion of the sale, the director now owns 365,912 shares of the company’s stock, valued at $10,402,878.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other 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 value of $240,500.00. Following the completion of the transaction, the director now owns 114,784 shares of the company’s stock, valued at $2,760,555.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gotham Makker sold 274,000 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $28.43, for a total transaction of $7,789,820.00. Following the sale, the director now directly owns 365,912 shares in the company, valued at $10,402,878.16. The disclosure for this sale can be found here. Insiders sold 414,935 shares of company stock valued at $11,476,424 in the last quarter. Company insiders own 31.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 target price on the stock. StockNews.com upgraded Rocket Pharmaceuticals to a “sell” rating in a research note on Friday, February 9th. Needham & Company LLC restated a “buy” rating and issued a $53.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th. Finally, UBS Group decreased 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. One investment 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 data from MarketBeat.com, the stock presently has a consensus 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.