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

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

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $8.66 on Wednesday. The firm has a 50 day moving average of $10.84 and a two-hundred day moving average of $14.59. The stock has a market capitalization of $789.42 million, a PE ratio of -3.15 and a beta of 0.98. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals has a 52 week low of $8.25 and a 52 week high of $28.73.

Analyst Ratings Changes

A number of analysts have issued reports on RCKT shares. Needham & Company LLC cut their target price on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Leerink Partners cut their price objective on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Chardan Capital reduced their target price on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Scotiabank increased their price target on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Monday. Finally, Canaccord Genuity Group decreased their price objective on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Monday. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.30.

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.