FY2024 Earnings Estimate for RCKT Issued By Chardan Capital

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Equities researchers at Chardan Capital increased their FY2024 earnings per share (EPS) estimates for Rocket Pharmaceuticals in a research report issued on Monday, November 11th. Chardan Capital analyst Y. Livshits now anticipates that the biotechnology company will post earnings per share of ($2.80) for the year, up from their prior forecast of ($2.97). Chardan Capital currently has a “Buy” rating and a $62.00 target price on the stock. The consensus estimate for Rocket Pharmaceuticals’ current full-year earnings is ($2.92) per share. Chardan Capital also issued estimates for Rocket Pharmaceuticals’ FY2025 earnings at ($2.75) EPS.

Several other research firms have also commented on RCKT. JPMorgan Chase & Co. increased their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $38.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, September 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a research note on Friday, November 8th. Finally, Scotiabank assumed coverage on Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ RCKT opened at $14.82 on Thursday. The company has a current ratio of 6.05, a quick ratio of 7.79 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $17.84 and its 200 day moving average price is $20.25. Rocket Pharmaceuticals has a 52 week low of $14.65 and a 52 week high of $32.53. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -5.39 and a beta of 1.09.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RCKT. Westfield Capital Management Co. LP grew its holdings in Rocket Pharmaceuticals by 3.8% in the third quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock valued at $83,001,000 after purchasing an additional 165,911 shares during the period. Maverick Capital Ltd. grew its stake in shares of Rocket Pharmaceuticals by 4.8% during the 3rd quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock valued at $76,072,000 after buying an additional 190,360 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Rocket Pharmaceuticals by 11.9% during 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 buying an additional 314,086 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Rocket Pharmaceuticals by 174.3% during the 1st quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock worth $70,170,000 after buying an additional 1,656,111 shares during the last quarter. Finally, Novo Holdings A S raised its position in shares of Rocket Pharmaceuticals by 4.8% in the 2nd quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock worth $23,683,000 after buying an additional 50,000 shares during the period. Institutional investors and hedge funds own 98.39% 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.