Brokers Issue Forecasts for RCKT FY2029 Earnings

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) - Equities research analysts at Wedbush issued their FY2029 earnings per share (EPS) estimates for Rocket Pharmaceuticals in a report issued on Friday, February 28th. Wedbush analyst Y. Zhong forecasts that the biotechnology company will earn $0.01 per share for the year. Wedbush has a "Outperform" rating and a $32.00 price objective on the stock. The consensus estimate for Rocket Pharmaceuticals' current full-year earnings is ($2.83) per share.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.06.

RCKT has been the subject of several other reports. Jefferies Financial Group began coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They issued a "buy" rating and a $29.00 price target for the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Chardan Capital decreased their price target on Rocket Pharmaceuticals from $62.00 to $54.00 and set a "buy" rating for the company in a report on Friday, February 28th. Leerink Partners dropped their price objective on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 19th. Finally, Needham & Company LLC reduced their target price on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Rocket Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $42.30.

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Rocket Pharmaceuticals Trading Down 2.6 %

Shares of Rocket Pharmaceuticals stock traded down $0.24 during trading hours on Monday, hitting $8.97. The company's stock had a trading volume of 359,213 shares, compared to its average volume of 1,423,286. The business has a fifty day moving average of $10.73 and a 200 day moving average of $14.48. Rocket Pharmaceuticals has a 1-year low of $8.25 and a 1-year high of $28.73. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $817.59 million, a PE ratio of -3.26 and a beta of 0.98.

Institutional Trading of Rocket Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank bought a new stake in shares of Rocket Pharmaceuticals in the 4th quarter worth about $13,827,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Rocket Pharmaceuticals by 16.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,572 shares of the biotechnology company's stock valued at $1,754,000 after buying an additional 19,939 shares during the last quarter. Woodline Partners LP raised its stake in Rocket Pharmaceuticals by 8.5% during the fourth quarter. Woodline Partners LP now owns 652,421 shares of the biotechnology company's stock valued at $8,201,000 after buying an additional 51,358 shares in the last quarter. Soleus Capital Management L.P. bought a new position in Rocket Pharmaceuticals during the 4th quarter worth approximately $3,415,000. Finally, Two Sigma Investments LP grew its position in shares of Rocket Pharmaceuticals by 88.6% in the 4th quarter. Two Sigma Investments LP now owns 41,142 shares of the biotechnology company's stock worth $517,000 after acquiring an additional 19,326 shares in the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

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.