Rocket Pharmaceuticals (NASDAQ:RCKT) Releases Earnings Results

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

Rocket Pharmaceuticals Stock Performance

Shares of RCKT opened at $8.66 on Wednesday. Rocket Pharmaceuticals has a 1 year low of $8.25 and a 1 year high of $28.73. The stock has a market capitalization of $789.42 million, a P/E ratio of -3.15 and a beta of 0.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The company’s fifty day moving average is $10.84 and its two-hundred day moving average is $14.59.

Analyst Upgrades and Downgrades

RCKT has been the topic of several recent analyst reports. Needham & Company LLC dropped their target price on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Scotiabank boosted 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 report on Monday. Chardan Capital dropped their price objective on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Wedbush began 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. Finally, Jefferies Financial Group initiated coverage on Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They set a “buy” rating and a $29.00 price target on the stock. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price 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.