What is Wedbush’s Estimate for RCKT Q4 Earnings?

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Stock analysts at Wedbush issued their Q4 2024 earnings per share (EPS) estimates for Rocket Pharmaceuticals in a note issued to investors on Monday, December 30th. Wedbush analyst Y. Zhong forecasts that the biotechnology company will post earnings of ($0.67) per share for the quarter. 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 ($2.84) per share. Wedbush also issued estimates for Rocket Pharmaceuticals’ Q1 2025 earnings at ($0.59) EPS, Q2 2025 earnings at ($0.60) EPS, Q3 2025 earnings at ($0.56) EPS, Q4 2025 earnings at ($0.57) EPS, FY2025 earnings at ($2.32) EPS, FY2026 earnings at ($2.13) EPS, FY2027 earnings at ($1.93) EPS and FY2028 earnings at ($1.19) EPS.

A number of other research analysts have also recently issued reports on the stock. Leerink Partners decreased their price objective on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Canaccord Genuity Group reiterated a “buy” rating and issued a $39.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Chardan Capital reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Finally, Scotiabank began coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 target price for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.27.

Rocket Pharmaceuticals Price Performance

RCKT stock opened at $12.72 on Wednesday. The company’s 50-day moving average price is $14.10 and its two-hundred day moving average price is $17.93. The firm has a market cap of $1.16 billion, a P/E ratio of -4.63 and a beta of 1.01. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals has a 12 month low of $11.15 and a 12 month high of $31.47.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RCKT. Novo Holdings A S grew its holdings in Rocket Pharmaceuticals by 4.8% in the second quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock worth $23,683,000 after purchasing an additional 50,000 shares during the period. Renaissance Technologies LLC bought a new position in shares of Rocket Pharmaceuticals during the 2nd quarter worth about $2,144,000. First Turn Management LLC grew its stake in shares of Rocket Pharmaceuticals by 10.8% in the 3rd quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock valued at $11,476,000 after buying an additional 60,317 shares during the period. Walleye Capital LLC bought a new stake in Rocket Pharmaceuticals in the 3rd quarter valued at about $2,556,000. Finally, Maverick Capital Ltd. raised its stake in Rocket Pharmaceuticals by 1.0% during the 2nd quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company’s stock worth $84,577,000 after buying an additional 40,000 shares during the period. 98.39% of the stock is owned by institutional investors.

Insider Activity at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $13.05, for a total value of $144,737.55. Following the sale, the chief executive officer now owns 707,328 shares in the company, valued at approximately $9,230,630.40. The trade was a 1.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 13,490 shares of company stock worth $176,045 in the last quarter. 28.50% of the stock is owned by insiders.

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.