Rocket Pharmaceuticals (NASDAQ:RCKT) Announces Quarterly Earnings Results

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

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $8.79 on Tuesday. The stock’s fifty day simple moving average is $10.89 and its 200-day simple moving average is $14.66. The company has a market capitalization of $801.27 million, a price-to-earnings ratio of -3.20 and a beta of 0.98. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals has a 1-year low of $8.78 and a 1-year high of $30.94.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Canaccord Genuity Group reduced their target price on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Monday. Scotiabank lifted their price target on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a report on Monday. Jefferies Financial Group assumed coverage on Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They issued a “buy” rating and a $29.00 target price on the stock. Finally, Chardan Capital lowered their price target on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a report on Friday. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, 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.