Leerink Partnrs Issues Optimistic Estimate for RCKT Earnings

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Equities researchers at Leerink Partnrs boosted their FY2025 EPS estimates for shares of Rocket Pharmaceuticals in a report issued on Monday, November 18th. Leerink Partnrs analyst M. Foroohar now expects that the biotechnology company will earn ($2.31) per share for the year, up from their prior estimate of ($2.46). The consensus estimate for Rocket Pharmaceuticals’ current full-year earnings is ($2.85) per share.

Other analysts have also issued research reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Canaccord Genuity Group reiterated a “buy” rating and issued a $39.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday. Scotiabank initiated coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. Finally, Leerink Partners lowered their price target on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Rocket Pharmaceuticals Trading Down 0.3 %

Shares of Rocket Pharmaceuticals stock opened at $13.00 on Thursday. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -4.65 and a beta of 1.09. Rocket Pharmaceuticals has a 12-month low of $12.62 and a 12-month high of $32.53. The firm’s 50 day simple moving average is $17.38 and its two-hundred day simple moving average is $19.98. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in shares of Rocket Pharmaceuticals by 22.8% in the third quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock valued at $207,642,000 after buying an additional 2,086,424 shares during the last quarter. Westfield Capital Management Co. LP raised its position in shares of Rocket Pharmaceuticals by 3.8% in the third quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock valued at $83,001,000 after buying an additional 165,911 shares during the last quarter. Maverick Capital Ltd. raised its position in shares of Rocket Pharmaceuticals by 4.8% in the third quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock valued at $76,072,000 after buying an additional 190,360 shares during the last quarter. State Street Corp raised its position in shares of Rocket Pharmaceuticals by 11.6% in the third quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after buying an additional 322,156 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Rocket Pharmaceuticals by 11.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock worth $79,290,000 after purchasing an additional 314,086 shares during the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.

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.