Brokers Set Expectations for Rocket Pharmaceuticals, Inc.’s Q2 2024 Earnings (NASDAQ:RCKT)

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Research analysts at Lifesci Capital issued their Q2 2024 earnings estimates for Rocket Pharmaceuticals in a note issued to investors on Friday, June 28th. Lifesci Capital analyst C. Jubinville forecasts that the biotechnology company will post earnings of ($0.80) per share for the quarter. The consensus estimate for Rocket Pharmaceuticals’ current full-year earnings is ($2.87) per share. Lifesci Capital also issued estimates for Rocket Pharmaceuticals’ Q3 2024 earnings at ($0.80) EPS, Q4 2024 earnings at ($0.81) EPS and FY2024 earnings at ($3.07) EPS.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.01. During the same quarter in the prior year, the company earned ($0.73) earnings per share.

Other research analysts have also recently issued research reports about the stock. Chardan Capital restated a “buy” rating and set a $62.00 price objective on shares of Rocket Pharmaceuticals in a report on Friday. The Goldman Sachs Group assumed coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 price objective for the company. Needham & Company LLC decreased their price objective on shares of Rocket Pharmaceuticals from $53.00 to $52.00 and set a “buy” rating for the company in a report on Friday. Finally, William Blair restated an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.13.

Rocket Pharmaceuticals Trading Up 0.5 %

RCKT opened at $21.53 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 10.47 and a quick ratio of 10.47. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -7.50 and a beta of 1.08. The firm has a 50 day simple moving average of $22.39 and a 200 day simple moving average of $25.99. Rocket Pharmaceuticals has a fifty-two week low of $14.89 and a fifty-two week high of $32.53.

Insider Activity at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 9,790 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $23.35, for a total value of $228,596.50. Following the completion of the transaction, the chief executive officer now owns 728,069 shares in the company, valued at approximately $17,000,411.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider John Militello sold 1,079 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $23.35, for a total transaction of $25,194.65. Following the transaction, the insider now owns 53,327 shares in the company, valued at approximately $1,245,185.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gaurav Shah sold 9,790 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $23.35, for a total transaction of $228,596.50. Following the transaction, the chief executive officer now owns 728,069 shares in the company, valued at approximately $17,000,411.15. The disclosure for this sale can be found here. Insiders sold a total of 105,282 shares of company stock worth $2,551,801 in the last quarter. 31.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RCKT. Wellington Management Group LLP increased its stake in Rocket Pharmaceuticals by 56.0% during the 3rd quarter. Wellington Management Group LLP now owns 8,022,830 shares of the biotechnology company’s stock valued at $164,388,000 after purchasing an additional 2,880,373 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Rocket Pharmaceuticals by 174.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock worth $70,170,000 after acquiring an additional 1,656,111 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Rocket Pharmaceuticals by 18.3% in the 4th quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock worth $163,264,000 after acquiring an additional 843,552 shares in the last quarter. Comerica Bank bought a new stake in shares of Rocket Pharmaceuticals in the 3rd quarter worth $9,017,000. Finally, Franklin Resources Inc. grew its stake in shares of Rocket Pharmaceuticals by 60.8% in the 4th quarter. Franklin Resources Inc. now owns 1,072,910 shares of the biotechnology company’s stock worth $32,155,000 after acquiring an additional 405,855 shares in the last quarter. Institutional investors and hedge funds 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.