FY2024 Earnings Estimate for RCKT Issued By Leerink Partnrs

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) - Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for shares of Rocket Pharmaceuticals in a report issued on Wednesday, January 22nd. Leerink Partnrs analyst M. Foroohar now expects 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 - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.78) by $0.07.

RCKT has been the topic of a number of other reports. Chardan Capital restated a "buy" rating and set a $62.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. Wedbush initiated coverage on Rocket Pharmaceuticals in a report on Monday, December 30th. They set an "outperform" rating and a $32.00 target price on the stock. Jefferies Financial Group assumed 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. Scotiabank began coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They set a "sector outperform" rating and a $50.00 price objective on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $47.27.

Rocket Pharmaceuticals Price Performance

RCKT traded down $0.37 on Friday, hitting $10.71. 1,430,433 shares of the company's stock were exchanged, compared to its average volume of 1,630,739. The firm has a 50-day moving average price of $12.32 and a 200-day moving average price of $16.81. The stock has a market cap of $976.32 million, a price-to-earnings ratio of -3.89 and a beta of 1.01. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals has a fifty-two week low of $10.07 and a fifty-two week high of $31.47.

Insider Buying and Selling at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 11,091 shares of the business's stock in a transaction 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 approximately $9,230,630.40. The trade was a 1.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 13,490 shares of company stock worth $176,045 over the last three months. Insiders own 28.50% of the company's stock.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased 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 acquiring an additional 582 shares during the period. KBC Group NV increased its holdings in Rocket Pharmaceuticals by 159.6% during the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company's stock worth $69,000 after purchasing an additional 3,366 shares during the period. Values First Advisors Inc. acquired a new stake in Rocket Pharmaceuticals in the 3rd quarter valued at about $108,000. SG Americas Securities LLC purchased a new position in shares of Rocket Pharmaceuticals in the 3rd quarter valued at about $113,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Rocket Pharmaceuticals by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,329 shares of the biotechnology company's stock valued at $243,000 after buying an additional 1,824 shares during the period. 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.