Rocket Pharmaceuticals (NASDAQ:RCKT – Get Free Report) posted its quarterly earnings results on Monday. The biotechnology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.22, FiscalAI reports. During the same period last year, the firm earned ($0.62) earnings per share.
Rocket Pharmaceuticals Stock Performance
Shares of RCKT opened at $3.50 on Wednesday. The company’s 50 day simple moving average is $3.35 and its 200-day simple moving average is $3.61. The firm has a market cap of $382.17 million, a PE ratio of -20.59 and a beta of 0.47. Rocket Pharmaceuticals has a 12-month low of $2.53 and a 12-month high of $5.45. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.08.
Insider Activity
In other news, CEO Gaurav Shah sold 55,684 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $3.09, for a total transaction of $172,063.56. Following the completion of the sale, the chief executive officer owned 1,061,724 shares in the company, valued at $3,280,727.16. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 59,139 shares of company stock worth $182,463 over the last 90 days. Company insiders own 21.30% of the company’s stock.
Hedge Funds Weigh In On Rocket Pharmaceuticals
Analyst Ratings Changes
A number of research firms have recently commented on RCKT. Wedbush dropped their price objective on Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday. Chardan Capital restated a “buy” rating and set a $11.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. Wall Street Zen downgraded Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Weiss Ratings upgraded shares of Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Rocket Pharmaceuticals has an average rating of “Hold” and a consensus price target of $8.57.
Check Out Our Latest Analysis on Rocket Pharmaceuticals
About Rocket Pharmaceuticals
Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.
The company’s pipeline comprises multiple product candidates in various stages of development.
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