Chardan Capital Issues Optimistic Estimate for RCKT Earnings

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Chardan Capital upped their FY2025 earnings estimates for Rocket Pharmaceuticals in a note issued to investors on Sunday, March 2nd. Chardan Capital analyst Y. Livshits now forecasts that the biotechnology company will earn ($1.25) per share for the year, up from their prior estimate of ($2.75). Chardan Capital currently has a “Buy” rating and a $54.00 target price on the stock. The consensus estimate for Rocket Pharmaceuticals’ current full-year earnings is ($2.83) per share.

A number of other equities analysts also recently issued reports on RCKT. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Canaccord Genuity Group cut their target price on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday. Leerink Partners reduced their price target on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Wedbush initiated coverage on shares of Rocket Pharmaceuticals in a research report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price target for the company. Finally, Needham & Company LLC cut their price objective on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.30.

Rocket Pharmaceuticals Trading Down 1.5 %

RCKT opened at $8.66 on Wednesday. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average is $10.84 and its two-hundred day moving average is $14.59. The company has a market capitalization of $789.42 million, a P/E ratio of -3.15 and a beta of 0.98. Rocket Pharmaceuticals has a 52 week low of $8.25 and a 52 week high of $28.73.

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

Hedge Funds Weigh In On Rocket Pharmaceuticals

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its stake in Rocket Pharmaceuticals by 24.5% during the 4th quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company’s stock worth $175,919,000 after buying an additional 2,753,033 shares during the last quarter. Suvretta Capital Management LLC acquired a new stake in Rocket Pharmaceuticals in the fourth quarter worth about $32,267,000. Janus Henderson Group PLC grew its stake in shares of Rocket Pharmaceuticals by 111.0% during the fourth quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company’s stock worth $50,343,000 after acquiring an additional 2,106,699 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Rocket Pharmaceuticals by 3,163.9% during the fourth quarter. Point72 Asset Management L.P. now owns 1,569,823 shares of the biotechnology company’s stock valued at $19,733,000 after acquiring an additional 1,521,727 shares in the last quarter. Finally, Boxer Capital Management LLC acquired a new position in shares of Rocket Pharmaceuticals during the fourth quarter valued at about $18,428,000. 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.