FY2024 Earnings Forecast for RCKT Issued By Leerink Partnrs

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

Several other research firms have also commented on RCKT. Leerink Partners decreased their price objective on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Chardan Capital reiterated a “buy” rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Canaccord Genuity Group reiterated a “buy” rating and set a $39.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Scotiabank started coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price target on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. 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 company’s stock. According to data from MarketBeat, Rocket Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $51.00.

Rocket Pharmaceuticals Price Performance

RCKT stock opened at $11.76 on Monday. The firm has a 50 day moving average of $15.53 and a 200-day moving average of $18.83. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -4.28 and a beta of 1.01. Rocket Pharmaceuticals has a 12-month low of $11.74 and a 12-month high of $32.53.

Insider Activity at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah sold 11,091 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $13.05, for a total transaction of $144,737.55. Following the completion of the transaction, the chief executive officer now directly owns 707,328 shares in the company, valued at approximately $9,230,630.40. This represents a 1.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 13,490 shares of company stock valued at $176,045. Corporate insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Rocket Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 582 shares during the period. Nisa Investment Advisors LLC increased its holdings 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 during the period. Values First Advisors Inc. acquired a new position in shares of Rocket Pharmaceuticals during the third quarter valued at $108,000. SG Americas Securities LLC bought a new stake in shares of Rocket Pharmaceuticals during the third quarter valued at about $113,000. Finally, XTX Topco Ltd bought a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter worth about $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.