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

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

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT traded down $0.12 on Thursday, reaching $9.40. The stock had a trading volume of 1,008,482 shares, compared to its average volume of 1,424,967. The firm has a fifty day moving average of $10.97 and a two-hundred day moving average of $14.82. The company has a market cap of $856.88 million, a P/E 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 company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05.

Analysts Set New Price Targets

A number of research analysts have issued reports on RCKT shares. Wedbush started coverage on Rocket Pharmaceuticals in a report on Monday, December 30th. They set an “outperform” rating and a $32.00 price objective for the company. Jefferies Financial Group assumed coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $29.00 price objective for the company. Chardan Capital reissued a “buy” rating and set a $62.00 price target on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Leerink Partners reduced their price objective on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $52.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.27.

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.