Leerink Partnrs Issues Optimistic Estimate for RCKT Earnings

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Equities research analysts at Leerink Partnrs upped their FY2025 EPS estimates for shares of Rocket Pharmaceuticals in a research report issued on Monday, November 18th. Leerink Partnrs analyst M. Foroohar now anticipates that the biotechnology company will post earnings of ($2.31) per share for the year, up from their prior estimate of ($2.46). The consensus estimate for Rocket Pharmaceuticals’ current full-year earnings is ($2.85) per share.

RCKT has been the topic of a number of other reports. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday. Chardan Capital restated a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a report on Monday. Leerink Partners reduced their target price on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday. Finally, Scotiabank began coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Rocket Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $51.00.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ RCKT opened at $13.00 on Thursday. The firm’s fifty day moving average is $17.38 and its two-hundred day moving average is $19.98. Rocket Pharmaceuticals has a 52-week low of $12.62 and a 52-week high of $32.53. 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 $1.19 billion, a P/E ratio of -4.65 and a beta of 1.09.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several large investors have recently added to or reduced their stakes in RCKT. Wellington Management Group LLP boosted its position in Rocket Pharmaceuticals by 22.8% in the 3rd quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock valued at $207,642,000 after buying an additional 2,086,424 shares during the period. Janus Henderson Group PLC boosted its position in Rocket Pharmaceuticals by 174.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock valued at $70,170,000 after buying an additional 1,656,111 shares during the period. State Street Corp boosted its position in Rocket Pharmaceuticals by 11.6% in the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after buying an additional 322,156 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Rocket Pharmaceuticals by 11.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock worth $79,290,000 after purchasing an additional 314,086 shares during the period. Finally, First Turn Management LLC lifted its position in shares of Rocket Pharmaceuticals by 123.6% in the 2nd quarter. First Turn Management LLC now owns 560,989 shares of the biotechnology company’s stock worth $12,078,000 after purchasing an additional 310,119 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.

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.