Rocket Pharmaceuticals (NASDAQ:RCKT) Releases Earnings Results, Beats Estimates By $0.06 EPS

Rocket Pharmaceuticals (NASDAQ:RCKT) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.62) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.06, Zacks reports.

Rocket Pharmaceuticals Trading Down 1.3 %

Shares of Rocket Pharmaceuticals stock traded down $0.12 during trading on Thursday, reaching $9.40. 1,008,482 shares of the stock were exchanged, compared to its average volume of 1,424,967. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The firm has a market cap of $856.88 million, a price-to-earnings ratio of -3.42 and a beta of 0.99. Rocket Pharmaceuticals has a 1 year low of $9.22 and a 1 year high of $31.24. The stock’s fifty day moving average is $10.97 and its 200 day moving average is $14.82.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RCKT. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Wedbush started coverage on shares of Rocket Pharmaceuticals in a research note on Monday, December 30th. They issued an “outperform” rating and a $32.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Leerink Partners lowered their target price on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.27.

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.