Rocket Pharmaceuticals (NASDAQ:RCKT) Issues Earnings Results

Rocket Pharmaceuticals (NASDAQ:RCKT) released its quarterly earnings data on Thursday. The biotechnology company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.03), Zacks reports.

Rocket Pharmaceuticals Stock Down 3.6%

RCKT stock traded down $0.09 during mid-day trading on Thursday, reaching $2.39. 954,292 shares of the company traded hands, compared to its average volume of 1,702,299. The stock has a market cap of $262.37 million, a price-to-earnings ratio of -14.06 and a beta of 0.51. The company has a quick ratio of 9.24, a current ratio of 9.24 and a debt-to-equity ratio of 0.05. Rocket Pharmaceuticals has a fifty-two week low of $2.16 and a fifty-two week high of $5.45. The firm’s 50 day moving average price is $2.74 and its 200 day moving average price is $3.40.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RCKT shares. The Goldman Sachs Group upgraded Rocket Pharmaceuticals from a “sell” rating to a “neutral” rating and increased their target price for the stock from $3.00 to $4.00 in a report on Thursday, October 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, November 4th. Chardan Capital restated a “buy” rating and set a $11.00 price target on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 7th. Wall Street Zen upgraded shares of Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, August 17th. Finally, Leerink Partners dropped their price objective on shares of Rocket Pharmaceuticals from $7.00 to $4.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.77.

Insider Buying and Selling

In other news, General Counsel Martin Wilson sold 75,364 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $3.40, for a total value of $256,237.60. Following the completion of the sale, the general counsel directly owned 598,489 shares of the company’s stock, valued at $2,034,862.60. This represents a 11.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 83,160 shares of company stock worth $277,472. Insiders own 21.30% of the company’s stock.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc. is a biotechnology company developing gene therapies for rare, serious diseases, with a focus on inherited disorders that often affect children. Its research programs use lentiviral and adeno-associated viral (AAV) vector technologies to deliver therapeutic genes to patients’ cells. The company’s pipeline has included programs targeting conditions such as Fanconi anemia, leukocyte adhesion deficiency-I, pyruvate kinase deficiency, Danon disease and arrhythmogenic cardiomyopathy.