FY2024 Earnings Estimate for RCKT Issued By Leerink Partnrs

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Research analysts at Leerink Partnrs boosted their FY2024 earnings per share estimates for shares of Rocket Pharmaceuticals in a research note issued on Wednesday, January 22nd. Leerink Partnrs analyst M. Foroohar now forecasts that the biotechnology company will post earnings of ($2.72) per share for the year, up from their previous estimate of ($2.73). The consensus estimate for Rocket Pharmaceuticals’ current full-year earnings is ($2.83) per share. Leerink Partnrs also issued estimates for Rocket Pharmaceuticals’ FY2025 earnings at ($1.24) EPS.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.07.

A number of other research analysts also recently commented on the company. Leerink Partners reduced their target price on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Wedbush began coverage on shares of Rocket Pharmaceuticals in a research report on Monday, December 30th. They issued an “outperform” rating and a $32.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $52.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Chardan Capital reaffirmed a “buy” rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $39.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $47.27.

Rocket Pharmaceuticals Price Performance

Shares of RCKT stock opened at $10.71 on Friday. The firm has a market cap of $976.29 million, a P/E ratio of -3.89 and a beta of 1.01. Rocket Pharmaceuticals has a 1-year low of $10.07 and a 1-year high of $31.47. The firm has a fifty day moving average of $12.32 and a two-hundred day moving average of $16.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05.

Insider Transactions at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah sold 11,091 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $13.05, for a total transaction of $144,737.55. Following the sale, the chief executive officer now owns 707,328 shares in the company, valued at $9,230,630.40. The trade was a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 13,490 shares of company stock valued at $176,045 over the last three months. Company insiders own 28.50% of the company’s stock.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in 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 worth $207,642,000 after acquiring an additional 2,086,424 shares during the period. Westfield Capital Management Co. LP boosted its holdings in shares of Rocket Pharmaceuticals by 3.8% during the third quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock worth $83,001,000 after purchasing an additional 165,911 shares during the period. Maverick Capital Ltd. grew its position in Rocket Pharmaceuticals by 4.8% during the third quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock valued at $76,072,000 after purchasing an additional 190,360 shares in the last quarter. State Street Corp lifted its position in Rocket Pharmaceuticals by 11.6% in the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock worth $57,294,000 after buying an additional 322,156 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of 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 valued at $29,888,000 after buying an additional 14,256 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

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.