Chardan Capital Has Strong Estimate for RCKT FY2024 Earnings

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) - Analysts at Chardan Capital raised their FY2024 earnings per share (EPS) estimates for Rocket Pharmaceuticals in a research report issued to clients and investors on Monday, November 11th. Chardan Capital analyst Y. Livshits now forecasts that the biotechnology company will post earnings per share of ($2.80) for the year, up from their previous forecast of ($2.97). Chardan Capital has a "Buy" rating and a $62.00 price objective on the stock. The consensus estimate for Rocket Pharmaceuticals' current full-year earnings is ($2.92) per share. Chardan Capital also issued estimates for Rocket Pharmaceuticals' FY2025 earnings at ($2.75) EPS.

RCKT has been the topic of several other reports. Canaccord Genuity Group reissued a "buy" rating and issued a $38.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. 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. Needham & Company LLC reaffirmed a "buy" rating and set a $52.00 target price on shares of Rocket Pharmaceuticals in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their target price on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $51.75.

Rocket Pharmaceuticals Stock Down 2.7 %

NASDAQ:RCKT traded down $0.42 during mid-day trading on Thursday, hitting $15.25. The company had a trading volume of 511,354 shares, compared to its average volume of 778,334. The business has a fifty day simple moving average of $17.91 and a 200-day simple moving average of $20.29. The company has a current ratio of 6.05, a quick ratio of 7.79 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals has a 1 year low of $15.19 and a 1 year high of $32.53. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -5.70 and a beta of 1.09.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Rocket Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company's stock worth $61,000 after buying an additional 582 shares during the period. Nisa Investment Advisors LLC lifted its position in Rocket Pharmaceuticals by 31.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company's stock worth $68,000 after purchasing an additional 764 shares during the period. Values First Advisors Inc. acquired a new stake in Rocket Pharmaceuticals in the third quarter worth approximately $108,000. SG Americas Securities LLC acquired a new stake in Rocket Pharmaceuticals in the third quarter worth approximately $113,000. Finally, Verition Fund Management LLC acquired a new stake in Rocket Pharmaceuticals in the third quarter worth approximately $290,000. 98.39% of the stock is currently 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.