Cantor Fitzgerald Issues Positive Estimate for RCKT Earnings

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) - Research analysts at Cantor Fitzgerald increased their FY2025 EPS estimates for shares of Rocket Pharmaceuticals in a report issued on Monday, May 12th. Cantor Fitzgerald analyst J. Schimmer now expects that the biotechnology company will post earnings per share of ($2.28) for the year, up from their prior estimate of ($3.37). The consensus estimate for Rocket Pharmaceuticals' current full-year earnings is ($2.83) per share.

RCKT has been the topic of a number of other research reports. The Goldman Sachs Group lowered their target price on Rocket Pharmaceuticals from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Scotiabank reduced their price objective on Rocket Pharmaceuticals from $52.00 to $51.00 and set a "sector outperform" rating on the stock in a research report on Monday. JPMorgan Chase & Co. dropped their price objective on Rocket Pharmaceuticals from $45.00 to $44.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Chardan Capital reduced their target price on shares of Rocket Pharmaceuticals from $54.00 to $45.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Canaccord Genuity Group lowered their price target on shares of Rocket Pharmaceuticals from $36.00 to $34.00 and set a "buy" rating for the company in a report on Monday. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Rocket Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $40.82.

Rocket Pharmaceuticals Trading Down 5.6%

Shares of RCKT opened at $6.61 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. Rocket Pharmaceuticals has a 1-year low of $4.55 and a 1-year high of $26.98. The stock has a market cap of $705.86 million, a price-to-earnings ratio of -2.40 and a beta of 1.02. The firm has a 50 day simple moving average of $7.06 and a 200-day simple moving average of $10.50.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.58) by $0.02. During the same quarter last year, the firm posted ($0.66) EPS.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in shares of Rocket Pharmaceuticals by 796.2% in the 4th quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company's stock worth $690,000 after purchasing an additional 48,793 shares during the period. Jennison Associates LLC lifted its holdings in shares of Rocket Pharmaceuticals by 72.6% during the 4th quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company's stock valued at $884,000 after acquiring an additional 29,564 shares in the last quarter. Mirador Capital Partners LP boosted its position in Rocket Pharmaceuticals by 403.9% during the 4th quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company's stock worth $1,063,000 after purchasing an additional 67,755 shares during the period. Sovran Advisors LLC purchased a new position in Rocket Pharmaceuticals in the fourth quarter valued at about $1,895,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Rocket Pharmaceuticals in the fourth quarter valued at about $141,000. Institutional investors and hedge funds own 98.39% of the company's stock.

Insider Transactions at Rocket Pharmaceuticals

In other news, CFO Aaron Ondrey sold 7,489 shares of the company's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $5.29, for a total transaction of $39,616.81. Following the completion of the sale, the chief financial officer now directly owns 129,650 shares in the company, valued at $685,848.50. This represents a 5.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gaurav Shah bought 20,000 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The stock was purchased at an average cost of $5.08 per share, for a total transaction of $101,600.00. Following the completion of the transaction, the chief executive officer now directly owns 792,680 shares in the company, valued at approximately $4,026,814.40. This trade represents a 2.59% increase in their position. The disclosure for this purchase can be found here. Insiders own 28.50% 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.

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