Chardan Capital Has Bullish Outlook for RCKT FY2024 Earnings

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Analysts at Chardan Capital lifted their FY2024 earnings per share estimates for shares of Rocket Pharmaceuticals in a research note issued to investors on Monday, November 11th. Chardan Capital analyst Y. Livshits now anticipates that the biotechnology company will earn ($2.80) per share for the year, up from their prior estimate of ($2.97). Chardan Capital currently has a “Buy” rating and a $62.00 target price on the stock. The consensus estimate for Rocket Pharmaceuticals’ current full-year earnings is ($2.85) per share. Chardan Capital also issued estimates for Rocket Pharmaceuticals’ FY2025 earnings at ($2.75) EPS.

Other equities research analysts have also issued reports about the stock. Scotiabank began coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a research note on Friday, November 8th. Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, September 30th. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

Rocket Pharmaceuticals Stock Performance

NASDAQ:RCKT opened at $13.98 on Thursday. Rocket Pharmaceuticals has a 1-year low of $13.80 and a 1-year high of $32.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 7.79. The business has a 50 day moving average of $17.75 and a 200 day moving average of $20.19. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -5.08 and a beta of 1.09.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its position in Rocket Pharmaceuticals by 21.5% during 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 acquiring an additional 582 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Rocket Pharmaceuticals by 31.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 764 shares in the last quarter. Values First Advisors Inc. purchased a new stake in Rocket Pharmaceuticals in the third quarter worth $108,000. SG Americas Securities LLC purchased a new stake in Rocket Pharmaceuticals in the third quarter worth $113,000. Finally, XTX Topco Ltd bought a new position in Rocket Pharmaceuticals in the third quarter worth $286,000. 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.