Rocket Pharmaceuticals (RCKT) Issues Quarterly Earnings Results

Rocket Pharmaceuticals (NASDAQ:RCKT) posted its quarterly earnings data on Wednesday. The biotechnology company reported ($0.40) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.03, MarketWatch Earnings reports.

Shares of RCKT stock traded down $0.98 during trading hours on Thursday, reaching $17.46. 231,675 shares of the company’s stock were exchanged, compared to its average volume of 226,722. Rocket Pharmaceuticals has a 1 year low of $7.84 and a 1 year high of $25.96. The company has a debt-to-equity ratio of 0.25, a current ratio of 13.27 and a quick ratio of 13.27.

Several research firms have commented on RCKT. William Blair reaffirmed a “buy” rating on shares of Rocket Pharmaceuticals in a research note on Wednesday. Zacks Investment Research raised Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Finally, LADENBURG THALM/SH SH began coverage on Rocket Pharmaceuticals in a research note on Thursday, September 13th. They set a “buy” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $28.50.

An institutional investor recently raised its position in Rocket Pharmaceuticals stock. Bank of New York Mellon Corp lifted its holdings in shares of Rocket Pharmaceuticals Inc (NASDAQ:RCKT) by 534.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,451 shares of the biotechnology company’s stock after buying an additional 59,354 shares during the period. Bank of New York Mellon Corp owned about 0.18% of Rocket Pharmaceuticals worth $1,383,000 at the end of the most recent reporting period. Institutional investors own 84.82% of the company’s stock.

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Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company that focuses on developing gene therapies for rare and devastating pediatric diseases. It has two lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells; and three LVV programs for the treatment of other rare genetic diseases, as well as an adeno-associated viral vector program, which is under preclinical development.

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Earnings History for Rocket Pharmaceuticals (NASDAQ:RCKT)

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