Rocket Pharmaceuticals (NASDAQ:RCKT) Issues Earnings Results, Beats Estimates By $0.01 EPS

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) announced its earnings results on Monday. The biotechnology company reported ($0.66) EPS for the quarter, beating analysts' consensus estimates of ($0.67) by $0.01, Briefing.com reports. During the same quarter last year, the firm earned ($0.73) earnings per share.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ:RCKT traded up $0.16 on Tuesday, reaching $23.36. 678,445 shares of the company were exchanged, compared to its average volume of 716,407. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04. Rocket Pharmaceuticals has a 1-year low of $14.89 and a 1-year high of $32.53. The company has a 50-day moving average of $25.59 and a 200-day moving average of $25.79. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -7.95 and a beta of 1.12.

Wall Street Analyst Weigh In

A number of research firms have commented on RCKT. JPMorgan Chase & Co. dropped their price objective on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 27th. UBS Group reduced their price objective on Rocket Pharmaceuticals from $56.00 to $54.00 and set a "buy" rating for the company in a research note on Friday, March 1st. The Goldman Sachs Group began coverage on Rocket Pharmaceuticals in a research note on Tuesday, April 2nd. They issued a "neutral" rating and a $39.00 target price on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 27th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $53.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Rocket Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.13.

Insider Activity at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider John Militello sold 2,490 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $28.10, for a total value of $69,969.00. Following the completion of the transaction, the insider now directly owns 55,239 shares of the company's stock, valued at $1,552,215.90. The sale was disclosed in a filing with the SEC, which is available at this link. In other Rocket Pharmaceuticals news, General Counsel Martin Wilson sold 3,576 shares of the business's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $29.84, for a total transaction of $106,707.84. Following the sale, the general counsel now directly owns 6,136 shares in the company, valued at $183,098.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Militello sold 2,490 shares of the company's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $28.10, for a total value of $69,969.00. Following the completion of the sale, the insider now directly owns 55,239 shares in the company, valued at approximately $1,552,215.90. The disclosure for this sale can be found here. Insiders sold 414,935 shares of company stock worth $11,476,424 over the last 90 days. Company insiders own 31.10% of the company's stock.

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.