Leerink Partnrs Analysts Lift Earnings Estimates for RCKT

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Stock analysts at Leerink Partnrs raised their FY2024 earnings per share (EPS) estimates for Rocket Pharmaceuticals in a research note issued on Wednesday, January 22nd. Leerink Partnrs analyst M. Foroohar now anticipates that the biotechnology company will earn ($2.72) per share for the year, up from their previous forecast of ($2.73). The consensus estimate for Rocket Pharmaceuticals’ current full-year earnings is ($2.83) per share. Leerink Partnrs also issued estimates for Rocket Pharmaceuticals’ FY2025 earnings at ($1.24) EPS.

A number of other equities research analysts have also recently commented on RCKT. Jefferies Financial Group started coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They set a “buy” rating and a $29.00 target price for the company. Chardan Capital reiterated a “buy” rating and set a $62.00 price objective on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $39.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Wedbush began coverage on Rocket Pharmaceuticals in a research report on Monday, December 30th. They set an “outperform” rating and a $32.00 target price on the stock. Finally, Leerink Partners lowered their price target on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.27.

Rocket Pharmaceuticals Stock Up 5.7 %

RCKT stock opened at $11.08 on Friday. The firm has a 50-day simple moving average of $12.39 and a two-hundred day simple moving average of $16.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. Rocket Pharmaceuticals has a one year low of $10.07 and a one year high of $31.47.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.07.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Rocket Pharmaceuticals by 21.5% in 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 purchasing an additional 582 shares during the period. KBC Group NV boosted its stake in shares of Rocket Pharmaceuticals by 159.6% during the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 3,366 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter worth about $108,000. SG Americas Securities LLC purchased a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter worth about $113,000. Finally, Dana Investment Advisors Inc. increased its stake in shares of Rocket Pharmaceuticals by 4.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after purchasing an additional 586 shares in the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

Insider Activity at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 11,091 shares of Rocket Pharmaceuticals 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 trade represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 13,490 shares of company stock worth $176,045 over the last three months. Company insiders own 28.50% 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.