Rocket Pharmaceuticals (NASDAQ:RCKT) Issues Earnings Results, Beats Expectations By $0.06 EPS

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

Rocket Pharmaceuticals Price Performance

Shares of RCKT traded down $0.12 during mid-day trading on Thursday, hitting $9.40. 1,008,482 shares of the stock were exchanged, compared to its average volume of 1,424,968. Rocket Pharmaceuticals has a 52-week low of $9.22 and a 52-week high of $31.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The firm has a 50-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 PE ratio of -3.42 and a beta of 0.99.

Analyst Upgrades and Downgrades

RCKT has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Jefferies Financial Group began coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They set a “buy” rating and a $29.00 price objective on the stock. Chardan Capital reissued a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $39.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Finally, Leerink Partners reduced their price objective on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.