Q4 Earnings Estimate for RCKT Issued By Wedbush

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) - Equities research analysts at Wedbush issued their Q4 2024 earnings per share (EPS) estimates for Rocket Pharmaceuticals in a research note issued on Monday, December 30th. Wedbush analyst Y. Zhong expects that the biotechnology company will earn ($0.67) per share for the quarter. Wedbush has a "Outperform" rating and a $32.00 price target on the stock. The consensus estimate for Rocket Pharmaceuticals' current full-year earnings is ($2.84) per share. Wedbush also issued estimates for Rocket Pharmaceuticals' Q1 2025 earnings at ($0.59) EPS, Q2 2025 earnings at ($0.60) EPS, Q3 2025 earnings at ($0.56) EPS, Q4 2025 earnings at ($0.57) EPS, FY2025 earnings at ($2.32) EPS, FY2026 earnings at ($2.13) EPS, FY2027 earnings at ($1.93) EPS and FY2028 earnings at ($1.19) EPS.

Several other equities research analysts have also weighed in on RCKT. Leerink Partners decreased their price objective on Rocket Pharmaceuticals from $46.00 to $44.00 and set an "outperform" rating for the company in a report on Tuesday, November 19th. Needham & Company LLC reiterated a "buy" rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Jefferies Financial Group initiated coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They set a "buy" rating and a $29.00 price target on the stock. Chardan Capital reissued a "buy" rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Finally, Scotiabank assumed coverage on Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They set a "sector outperform" rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $47.27.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT traded up $0.54 during mid-day trading on Wednesday, hitting $12.57. The stock had a trading volume of 2,096,219 shares, compared to its average volume of 864,089. Rocket Pharmaceuticals has a 52 week low of $11.15 and a 52 week high of $31.47. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The business has a fifty day moving average price of $14.19 and a 200-day moving average price of $17.97. The firm has a market cap of $1.15 billion, a P/E ratio of -4.57 and a beta of 1.01.

Insider Transactions at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 11,091 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $13.05, for a total value of $144,737.55. Following the completion of the transaction, the chief executive officer now directly owns 707,328 shares in the company, valued at approximately $9,230,630.40. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 13,490 shares of company stock valued at $176,045. 28.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in RCKT. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Rocket Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company's stock valued at $61,000 after purchasing an additional 582 shares during the last quarter. Dana Investment Advisors Inc. boosted its stake in Rocket Pharmaceuticals by 4.4% in the second quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company's stock worth $298,000 after buying an additional 586 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Rocket Pharmaceuticals by 1.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,633 shares of the biotechnology company's stock valued at $2,210,000 after acquiring an additional 1,561 shares during the last quarter. Pier 88 Investment Partners LLC raised its stake in shares of Rocket Pharmaceuticals by 5.1% during the third quarter. Pier 88 Investment Partners LLC now owns 32,490 shares of the biotechnology company's stock worth $600,000 after acquiring an additional 1,590 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Rocket Pharmaceuticals by 9.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,767 shares of the biotechnology company's stock worth $347,000 after acquiring an additional 1,675 shares during the last quarter. Hedge funds and other institutional investors 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.