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

Rocket Pharmaceuticals (NASDAQ:RCKT) posted its 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 business posted ($0.82) earnings per share.

Rocket Pharmaceuticals Price Performance

Shares of Rocket Pharmaceuticals stock traded down $1.23 during trading on Wednesday, hitting $18.90. 842,547 shares of the company’s stock traded hands, compared to its average volume of 757,898. The company has a debt-to-equity ratio of 0.04, a current ratio of 10.47 and a quick ratio of 10.47. The firm’s fifty day moving average price is $22.25 and its 200 day moving average price is $24.76. The company has a market cap of $1.72 billion, a PE ratio of -6.64 and a beta of 1.13. Rocket Pharmaceuticals has a twelve month low of $14.89 and a twelve month high of $32.53.

Insider Activity

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 9,790 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $23.35, for a total value of $228,596.50. Following the sale, the chief executive officer now directly owns 728,069 shares in the company, valued at $17,000,411.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 9,790 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $23.35, for a total value of $228,596.50. Following the transaction, the chief executive officer now directly owns 728,069 shares in the company, valued at $17,000,411.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Militello sold 1,079 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $23.35, for a total transaction of $25,194.65. Following the sale, the insider now directly owns 53,327 shares of the company’s stock, valued at approximately $1,245,185.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,755 shares of company stock worth $358,654. Company insiders own 31.10% of the company’s stock.

Analyst Ratings Changes

RCKT has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday. Chardan Capital reiterated a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and set a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Canaccord Genuity Group cut their price target on Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.75.

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.