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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Equities researchers at Lifesci Capital issued their Q2 2024 earnings estimates for Rocket Pharmaceuticals in a research note issued on Friday, June 28th. Lifesci Capital analyst C. Jubinville expects that the biotechnology company will post earnings per share of ($0.80) 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 released its quarterly earnings results on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.01. During the same period in the prior year, the company earned ($0.73) earnings per share.

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

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ:RCKT opened at $20.66 on Monday. The firm has a 50 day moving average of $22.32 and a 200-day moving average of $25.94. The stock has a market capitalization of $1.88 billion, a PE ratio of -7.20 and a beta of 1.13. Rocket Pharmaceuticals has a 12 month low of $14.89 and a 12 month high of $32.53. The company has a current ratio of 10.47, a quick ratio of 10.47 and a debt-to-equity ratio of 0.04.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in RCKT. Annandale Capital LLC acquired a new position in Rocket Pharmaceuticals during the third quarter valued at $66,000. Tower Research Capital LLC TRC boosted its position in Rocket Pharmaceuticals by 105.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,557 shares of the biotechnology company’s stock worth $107,000 after acquiring an additional 1,829 shares during the last quarter. Old Well Partners LLC acquired a new stake in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $200,000. Capstone Investment Advisors LLC purchased a new stake in shares of Rocket Pharmaceuticals in the fourth quarter valued at about $217,000. Finally, Amalgamated Bank increased its holdings in shares of Rocket Pharmaceuticals by 5.4% during the 4th quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock worth $259,000 after buying an additional 440 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors.

Insider Activity at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider John Militello sold 1,079 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $23.35, for a total value of $25,194.65. Following the completion of the transaction, the insider now owns 53,327 shares of the company’s stock, valued at approximately $1,245,185.45. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Gaurav Shah sold 9,790 shares of the stock in a transaction 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 sale, the chief executive officer now owns 728,069 shares of the company’s stock, valued at $17,000,411.15. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Militello sold 1,079 shares of Rocket Pharmaceuticals stock in a transaction that occurred 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 sale, the insider now directly owns 53,327 shares of the company’s stock, valued at approximately $1,245,185.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 105,282 shares of company stock valued at $2,551,801. 31.10% of the stock is owned by insiders.

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.