Rocket Pharmaceuticals (NASDAQ:RCKT) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Rocket Pharmaceuticals (NASDAQ:RCKT) issued its quarterly earnings data on Thursday. The biotechnology company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.03), Zacks reports.

Rocket Pharmaceuticals Stock Down 3.6%

Shares of NASDAQ RCKT traded down $0.09 during mid-day trading on Thursday, reaching $2.39. The company had a trading volume of 954,292 shares, compared to its average volume of 2,454,261. Rocket Pharmaceuticals has a 12-month low of $2.16 and a 12-month high of $5.45. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.24 and a current ratio of 9.24. The company has a market capitalization of $262.37 million, a price-to-earnings ratio of -14.06 and a beta of 0.51. The stock has a fifty day moving average of $2.77 and a two-hundred day moving average of $3.40.

Insider Activity at Rocket Pharmaceuticals

In related news, General Counsel Martin Wilson sold 75,364 shares of Rocket Pharmaceuticals stock in a transaction on Friday, September 11th. The shares were sold at an average price of $3.40, for a total value of $256,237.60. Following the completion of the sale, the general counsel owned 598,489 shares of the company’s stock, valued at approximately $2,034,862.60. The trade was a 11.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 78,288 shares of company stock valued at $266,121. Insiders own 21.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Needham & Company LLC upgraded Rocket Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Wednesday, September 16th. Chardan Capital reissued a “buy” rating and issued a $11.00 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 7th. Leerink Partners lowered their price target on shares of Rocket Pharmaceuticals from $7.00 to $4.00 and set a “market perform” rating for the company in a report on Wednesday, October 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Rocket Pharmaceuticals in a report on Wednesday, November 4th. Finally, The Goldman Sachs Group raised shares of Rocket Pharmaceuticals from a “sell” rating to a “neutral” rating and increased their price target for the stock from $3.00 to $4.00 in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.77.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc. is a biotechnology company developing gene therapies for rare, serious diseases, with a focus on inherited disorders that often affect children. Its research programs use lentiviral and adeno-associated viral (AAV) vector technologies to deliver therapeutic genes to patients’ cells. The company’s pipeline has included programs targeting conditions such as Fanconi anemia, leukocyte adhesion deficiency-I, pyruvate kinase deficiency, Danon disease and arrhythmogenic cardiomyopathy.