Equities Analysts Offer Predictions for RCKT FY2024 Earnings

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Research analysts at Leerink Partnrs upped their FY2024 earnings per share (EPS) estimates for shares of Rocket Pharmaceuticals in a report issued on Wednesday, December 11th. Leerink Partnrs analyst M. Foroohar now expects that the biotechnology company will post earnings of ($2.73) per share for the year, up from their previous estimate of ($2.84). The consensus estimate for Rocket Pharmaceuticals’ current full-year earnings is ($2.85) per share. Leerink Partnrs also issued estimates for Rocket Pharmaceuticals’ Q4 2024 earnings at ($0.62) EPS and FY2025 earnings at ($2.13) EPS.

Several other research firms have also issued reports on RCKT. Chardan Capital reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Leerink Partners dropped their price objective on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Canaccord Genuity Group reiterated a “buy” rating and set a $39.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Finally, Scotiabank assumed coverage on Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

Rocket Pharmaceuticals Price Performance

NASDAQ RCKT opened at $11.76 on Monday. The company has a 50 day moving average price of $15.53 and a two-hundred day moving average price of $18.83. Rocket Pharmaceuticals has a 12-month low of $11.74 and a 12-month high of $32.53. The stock has a market capitalization of $1.07 billion, a PE ratio of -4.28 and a beta of 1.01. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06.

Insider Transactions at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $13.05, for a total value of $144,737.55. Following the transaction, the chief executive officer now owns 707,328 shares of the company’s stock, valued at approximately $9,230,630.40. The trade was a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 13,490 shares of company stock valued at $176,045. 28.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in Rocket Pharmaceuticals by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock worth $29,888,000 after buying an additional 14,256 shares in the last quarter. Main Management ETF Advisors LLC acquired a new position in Rocket Pharmaceuticals in the third quarter valued at approximately $602,000. XTX Topco Ltd acquired a new stake in Rocket Pharmaceuticals during the 3rd quarter worth $286,000. Wellington Management Group LLP raised its position in shares of Rocket Pharmaceuticals by 22.8% during the 3rd quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock valued at $207,642,000 after acquiring an additional 2,086,424 shares during the last quarter. Finally, Sphera Funds Management LTD. lifted its stake in shares of Rocket Pharmaceuticals by 12.0% in the 3rd quarter. Sphera Funds Management LTD. now owns 231,792 shares of the biotechnology company’s stock valued at $4,281,000 after purchasing an additional 24,859 shares during the period. Institutional investors own 98.39% of the company’s stock.

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.