Brokers Issue Forecasts for Rocket Pharmaceuticals, Inc.’s Q3 2024 Earnings (NASDAQ:RCKT)

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Stock analysts at Lifesci Capital dropped their Q3 2024 earnings per share estimates for shares of Rocket Pharmaceuticals in a research report issued to clients and investors on Tuesday, August 6th. Lifesci Capital analyst C. Jubinville now forecasts that the biotechnology company will post earnings per share of ($0.81) for the quarter, down from their previous estimate of ($0.80). The consensus estimate for Rocket Pharmaceuticals’ current full-year earnings is ($2.96) per share. Lifesci Capital also issued estimates for Rocket Pharmaceuticals’ Q4 2024 earnings at ($0.79) EPS and FY2024 earnings at ($3.00) EPS.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.02). During the same period in the previous year, the firm posted ($0.82) earnings per share.

Several other research firms have also recently weighed in on RCKT. Needham & Company LLC restated a “buy” rating and set a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Canaccord Genuity Group decreased their target price on Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Chardan Capital reaffirmed a “buy” rating and set a $62.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. William Blair reaffirmed an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Monday, June 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Rocket Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Rocket Pharmaceuticals Price Performance

RCKT stock opened at $19.04 on Friday. The business has a 50 day moving average price of $22.12 and a 200 day moving average price of $24.59. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -6.63 and a beta of 1.13. Rocket Pharmaceuticals has a fifty-two week low of $14.89 and a fifty-two week high of $32.53. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.04.

Insider Buying and Selling

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 9,790 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Thursday, May 16th. The stock was 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 approximately $17,000,411.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Rocket Pharmaceuticals news, insider John Militello sold 1,079 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $23.35, for a total value of $25,194.65. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gaurav Shah sold 9,790 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 value of $228,596.50. Following the completion of the sale, the chief executive officer now directly owns 728,069 shares in the company, valued at approximately $17,000,411.15. The disclosure for this sale can be found here. Insiders sold a total of 15,755 shares of company stock valued at $358,654 over the last three months. 31.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its position in shares of Rocket Pharmaceuticals by 31.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after buying an additional 764 shares in the last quarter. Old Well Partners LLC purchased a new position in Rocket Pharmaceuticals during the 4th quarter valued at about $200,000. Capstone Investment Advisors LLC purchased a new position in Rocket Pharmaceuticals during the 4th quarter valued at about $217,000. Amalgamated Bank increased its holdings in Rocket Pharmaceuticals by 5.4% during the 4th quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock valued at $259,000 after acquiring an additional 440 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Rocket Pharmaceuticals during the 4th quarter valued at about $332,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

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.