Equities Analysts Offer Predictions for RCKT FY2029 Earnings

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Analysts at Wedbush issued their FY2029 earnings per share (EPS) estimates for shares of Rocket Pharmaceuticals in a note issued to investors on Friday, February 28th. Wedbush analyst Y. Zhong anticipates that the biotechnology company will earn $0.01 per share for the year. Wedbush has a “Outperform” rating and a $32.00 price target on the stock. The consensus estimate for Rocket Pharmaceuticals’ current full-year earnings is ($2.83) per share.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.06.

Other research analysts also recently issued reports about the company. Jefferies Financial Group initiated coverage on Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price objective for the company. Leerink Partners cut their target price on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Canaccord Genuity Group cut their target price on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Monday. Chardan Capital cut their target price on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, The Goldman Sachs Group cut their target price on Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.30.

Rocket Pharmaceuticals Stock Down 1.5 %

NASDAQ RCKT opened at $8.66 on Monday. The business has a fifty day moving average price of $10.84 and a 200 day moving average price of $14.59. Rocket Pharmaceuticals has a one year low of $8.25 and a one year high of $28.73. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The company has a market cap of $789.42 million, a P/E ratio of -3.15 and a beta of 0.98.

Institutional Trading of Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of RCKT. Covestor Ltd increased its position in shares of Rocket Pharmaceuticals by 33,166.7% during the 4th quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 1,990 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 during the period. Signaturefd LLC boosted its holdings in Rocket Pharmaceuticals by 319.8% during the 4th quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock valued at $62,000 after acquiring an additional 3,745 shares during the period. Harbour Investments Inc. boosted its holdings in Rocket Pharmaceuticals by 51.9% during the 4th quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock valued at $68,000 after acquiring an additional 1,840 shares during the period. Finally, KBC Group NV boosted its holdings in Rocket Pharmaceuticals by 159.6% during the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 3,366 shares during the period. 98.39% of the stock is owned by institutional investors and hedge funds.

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.