Equities Analysts Set Expectations for RCKT FY2024 Earnings

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Leerink Partnrs increased their FY2024 earnings estimates for Rocket Pharmaceuticals in a report issued on Wednesday, December 11th. Leerink Partnrs analyst M. Foroohar now forecasts that the biotechnology company will post earnings of ($2.73) per share for the year, up from their previous estimate 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.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group restated a “buy” rating and set a $39.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Leerink Partners decreased their price target on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Needham & Company LLC restated a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Scotiabank started coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

Rocket Pharmaceuticals Trading Down 4.4 %

RCKT stock opened at $12.02 on Monday. The firm has a market cap of $1.10 billion, a PE ratio of -4.37 and a beta of 1.01. The firm has a fifty day moving average price of $15.63 and a 200 day moving average price of $18.90. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. Rocket Pharmaceuticals has a fifty-two week low of $11.76 and a fifty-two week high of $32.53.

Insiders Place Their Bets

In related news, CEO Gaurav Shah sold 11,091 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $13.05, for a total transaction of $144,737.55. Following the transaction, the chief executive officer now directly owns 707,328 shares in the company, valued at approximately $9,230,630.40. The trade was a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 13,490 shares of company stock worth $176,045. Company insiders own 28.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings 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 purchasing an additional 2,086,424 shares during the last quarter. State Street Corp grew its holdings in Rocket Pharmaceuticals by 11.6% in the 3rd 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 in the last quarter. First Turn Management LLC increased its stake in shares of Rocket Pharmaceuticals by 123.6% in the 2nd quarter. First Turn Management LLC now owns 560,989 shares of the biotechnology company’s stock worth $12,078,000 after acquiring an additional 310,119 shares during the last quarter. Maverick Capital Ltd. raised its holdings in shares of Rocket Pharmaceuticals by 4.8% during the 3rd quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock worth $76,072,000 after acquiring an additional 190,360 shares during the period. Finally, Westfield Capital Management Co. LP boosted its position in shares of Rocket Pharmaceuticals by 3.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock valued at $83,001,000 after acquiring an additional 165,911 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.