Equities Analysts Issue Forecasts for RCKT FY2025 Earnings

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) - Research analysts at Chardan Capital raised their FY2025 earnings estimates for shares of Rocket Pharmaceuticals in a research note issued to investors on Wednesday, May 28th. Chardan Capital analyst Y. Livshits now forecasts that the biotechnology company will earn ($2.24) per share for the year, up from their previous estimate of ($2.32). Chardan Capital has a "Buy" rating and a $17.00 price target on the stock. The consensus estimate for Rocket Pharmaceuticals' current full-year earnings is ($2.83) per share. Chardan Capital also issued estimates for Rocket Pharmaceuticals' FY2026 earnings at ($1.44) EPS.

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 for the quarter, topping the consensus estimate of ($0.58) by $0.02. During the same quarter last year, the company posted ($0.66) earnings per share.

A number of other brokerages have also recently commented on RCKT. Wedbush reaffirmed an "outperform" rating and set a $32.00 price objective on shares of Rocket Pharmaceuticals in a research note on Friday, May 16th. Morgan Stanley reaffirmed an "equal weight" rating and set a $7.00 price objective on shares of Rocket Pharmaceuticals in a research note on Wednesday, May 28th. BMO Capital Markets dropped their price objective on shares of Rocket Pharmaceuticals from $30.00 to $8.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 28th. Scotiabank dropped their price objective on shares of Rocket Pharmaceuticals from $51.00 to $19.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, May 28th. Finally, Bank of America decreased their target price on Rocket Pharmaceuticals from $32.00 to $9.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals currently has an average rating of "Hold" and an average target price of $21.21.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ RCKT traded up $0.26 during midday trading on Monday, reaching $2.77. 8,628,012 shares of the stock were exchanged, compared to its average volume of 1,905,663. The firm has a market cap of $295.80 million, a price-to-earnings ratio of -1.01 and a beta of 1.02. Rocket Pharmaceuticals has a twelve month low of $2.19 and a twelve month high of $26.98. The firm has a 50-day simple moving average of $6.20 and a two-hundred day simple moving average of $9.41. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah acquired 20,000 shares of the firm's stock in a transaction on Thursday, April 10th. The shares were bought at an average price of $5.08 per share, for a total transaction of $101,600.00. Following the acquisition, the chief executive officer now owns 792,680 shares of the company's stock, valued at approximately $4,026,814.40. This trade represents a 2.59% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kinnari Patel bought 21,099 shares of the business's stock in a transaction on Wednesday, April 9th. The stock was bought at an average cost of $4.70 per share, with a total value of $99,165.30. Following the completion of the purchase, the insider now directly owns 26,774 shares in the company, valued at approximately $125,837.80. The trade was a 371.79% 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 insiders.

Institutional Trading of Rocket Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Covestor Ltd grew its position in Rocket Pharmaceuticals by 33,166.7% in the fourth quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company's stock worth $25,000 after acquiring an additional 1,990 shares during the period. Signaturefd LLC grew its holdings in shares of Rocket Pharmaceuticals by 83.6% during the 1st quarter. Signaturefd LLC now owns 9,024 shares of the biotechnology company's stock worth $60,000 after purchasing an additional 4,108 shares during the period. Harbour Investments Inc. increased its position in shares of Rocket Pharmaceuticals by 51.9% during the 4th quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company's stock worth $68,000 after purchasing an additional 1,840 shares during the last quarter. KBC Group NV increased its position in shares of Rocket Pharmaceuticals by 159.6% during the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company's stock worth $69,000 after purchasing an additional 3,366 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Rocket Pharmaceuticals in the 1st quarter worth approximately $69,000. Hedge funds and other institutional investors 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.