FY2025 Earnings Forecast for RCKT Issued By Chardan Capital

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) - Equities research analysts at Chardan Capital lifted their FY2025 earnings per share estimates for shares of Rocket Pharmaceuticals in a research report issued on Sunday, March 2nd. Chardan Capital analyst Y. Livshits now anticipates that the biotechnology company will post earnings per share of ($1.25) for the year, up from their prior forecast of ($2.75). Chardan Capital has a "Buy" rating and a $54.00 price objective on the stock. The consensus estimate for Rocket Pharmaceuticals' current full-year earnings is ($2.83) per share.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group reduced their price objective on Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Wedbush initiated coverage on Rocket Pharmaceuticals in a research report on Monday, December 30th. They issued an "outperform" rating and a $32.00 price objective for the company. Needham & Company LLC reduced their price objective on Rocket Pharmaceuticals from $52.00 to $42.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Jefferies Financial Group initiated coverage on Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They issued a "buy" rating and a $29.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and ten have given 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 target price of $42.30.

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Rocket Pharmaceuticals Stock Performance

RCKT traded down $0.22 during midday trading on Wednesday, reaching $8.77. The company's stock had a trading volume of 1,080,976 shares, compared to its average volume of 1,443,365. The stock has a market cap of $935.15 million, a P/E ratio of -3.19 and a beta of 1.03. The company has a fifty day simple moving average of $10.61 and a 200 day simple moving average of $14.34. 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 twelve month low of $8.25 and a twelve month high of $28.73.

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

Hedge Funds Weigh In On Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in Rocket Pharmaceuticals by 21.5% in 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. Harbor Capital Advisors Inc. raised its position in Rocket Pharmaceuticals by 73.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 168,506 shares of the biotechnology company's stock valued at $3,112,000 after purchasing an additional 71,372 shares during the last quarter. Privium Fund Management B.V. raised its position in Rocket Pharmaceuticals by 17.5% in the 3rd quarter. Privium Fund Management B.V. now owns 294,800 shares of the biotechnology company's stock valued at $5,445,000 after purchasing an additional 43,820 shares during the last quarter. Pier 88 Investment Partners LLC raised its position in Rocket Pharmaceuticals by 5.1% in the 3rd quarter. Pier 88 Investment Partners LLC now owns 32,490 shares of the biotechnology company's stock valued at $600,000 after purchasing an additional 1,590 shares during the last quarter. Finally, First Turn Management LLC raised its position in Rocket Pharmaceuticals by 10.8% in the 3rd quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company's stock valued at $11,476,000 after purchasing an additional 60,317 shares during the last quarter. Institutional investors own 98.39% of the company's stock.

Rocket Pharmaceuticals Company Profile

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.