Rocket Pharmaceuticals (NASDAQ:RCKT) Announces Earnings Results

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

Rocket Pharmaceuticals Stock Down 7.0 %

Shares of NASDAQ:RCKT opened at $8.79 on Tuesday. Rocket Pharmaceuticals has a one year low of $8.78 and a one year high of $30.94. The stock has a market cap of $801.27 million, a price-to-earnings ratio of -3.20 and a beta of 0.98. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The company has a 50 day moving average of $10.89 and a 200-day moving average of $14.66.

Wall Street Analyst Weigh In

A number of research firms recently commented on RCKT. Jefferies Financial Group initiated coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price objective on the stock. Scotiabank upped their price objective on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Monday. Canaccord Genuity Group reduced their price target on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Monday. The Goldman Sachs Group cut their price objective on Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Wedbush initiated coverage on Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an “outperform” rating and a $32.00 target price for the company. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.30.

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.