Leerink Partnrs Has Positive Outlook of RCKT FY2024 Earnings

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) - Stock analysts at Leerink Partnrs upped their FY2024 earnings estimates for Rocket Pharmaceuticals in a research note issued on Wednesday, December 11th. Leerink Partnrs analyst M. Foroohar now expects that the biotechnology company will post earnings per share of ($2.73) for the year, up from their prior forecast 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.

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

Rocket Pharmaceuticals Trading Down 2.2 %

NASDAQ:RCKT traded down $0.26 on Monday, reaching $11.76. The company's stock had a trading volume of 1,446,005 shares, compared to its average volume of 826,219. The firm has a market cap of $1.07 billion, a PE ratio of -4.37 and a beta of 1.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The business's 50-day moving average price is $15.63 and its two-hundred day moving average price is $18.90. Rocket Pharmaceuticals has a 1-year low of $11.74 and a 1-year high of $32.53.

Insider Buying and Selling

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now owns 707,328 shares in the company, valued at $9,230,630.40. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 13,490 shares of company stock worth $176,045. Insiders own 28.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its stake in Rocket Pharmaceuticals by 31.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company's stock valued at $68,000 after purchasing an additional 764 shares during the period. EFG Asset Management North America Corp. lifted its stake in shares of Rocket Pharmaceuticals by 47.0% in the 2nd quarter. EFG Asset Management North America Corp. now owns 222,046 shares of the biotechnology company's stock valued at $4,780,000 after acquiring an additional 71,044 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Rocket Pharmaceuticals by 10.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 239,877 shares of the biotechnology company's stock valued at $5,165,000 after acquiring an additional 22,521 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Rocket Pharmaceuticals by 30.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,092 shares of the biotechnology company's stock worth $368,000 after acquiring an additional 3,995 shares during the last quarter. Finally, Privium Fund Management B.V. boosted its stake in shares of Rocket Pharmaceuticals by 6.8% during the second quarter. Privium Fund Management B.V. now owns 250,980 shares of the biotechnology company's stock valued at $4,964,000 after purchasing an additional 15,930 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.