RCKT FY2025 EPS Forecast Lifted by Cantor Fitzgerald

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) - Cantor Fitzgerald boosted their FY2025 earnings per share estimates for Rocket Pharmaceuticals in a report issued on Monday, May 12th. Cantor Fitzgerald analyst J. Schimmer now expects that the biotechnology company will post earnings of ($2.28) per share for the year, up from their prior forecast of ($3.37). Cantor Fitzgerald currently has a "Overweight" rating and a $30.00 target price on the stock. The consensus estimate for Rocket Pharmaceuticals' current full-year earnings is ($2.83) per share.

A number of other brokerages also recently weighed in on RCKT. Needham & Company LLC reiterated a "buy" rating and set a $42.00 price target on shares of Rocket Pharmaceuticals in a report on Wednesday, April 9th. Wedbush reiterated an "outperform" rating and issued a $32.00 target price on shares of Rocket Pharmaceuticals in a report on Friday. Chardan Capital raised their price objective on Rocket Pharmaceuticals from $45.00 to $46.00 and gave the company a "buy" rating in a research note on Friday. Canaccord Genuity Group dropped their price objective on Rocket Pharmaceuticals from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. lowered their target price on Rocket Pharmaceuticals from $45.00 to $44.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Rocket Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $37.73.

Rocket Pharmaceuticals Price Performance

Shares of RCKT traded down $0.06 during trading hours on Wednesday, reaching $6.45. The stock had a trading volume of 564,297 shares, compared to its average volume of 1,482,642. The company's 50-day moving average is $6.93 and its two-hundred day moving average is $10.23. Rocket Pharmaceuticals has a 12 month low of $4.55 and a 12 month high of $26.98. 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 stock has a market capitalization of $688.24 million, a PE ratio of -2.34 and a beta of 1.02.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.02. During the same period in the prior year, the firm earned ($0.66) earnings per share.

Insider Activity at Rocket Pharmaceuticals

In other news, CFO Aaron Ondrey sold 7,489 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 129,650 shares of the company's stock, valued at approximately $685,848.50. The trade was a 5.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gaurav Shah acquired 20,000 shares of the business's stock in a transaction on Thursday, April 10th. The stock was acquired at an average cost of $5.08 per share, for a total transaction of $101,600.00. Following the transaction, the chief executive officer now directly owns 792,680 shares in the company, valued at $4,026,814.40. The trade was a 2.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. 24.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in shares of 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 purchasing an additional 2,753,033 shares during the last quarter. Vanguard Group Inc. boosted its stake in Rocket Pharmaceuticals by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,617,784 shares of the biotechnology company's stock worth $44,141,000 after purchasing an additional 40,189 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Rocket Pharmaceuticals by 2.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 4,820,701 shares of the biotechnology company's stock worth $32,154,000 after purchasing an additional 106,091 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Rocket Pharmaceuticals by 111.0% in the fourth quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company's stock worth $50,343,000 after purchasing an additional 2,106,699 shares during the last quarter. Finally, Suvretta Capital Management LLC purchased a new position in shares of Rocket Pharmaceuticals in the fourth quarter worth about $32,267,000. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

About Rocket Pharmaceuticals

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.