Q2 2024 Earnings Estimate for Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Issued By Leerink Partnrs

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) - Equities research analysts at Leerink Partnrs cut their Q2 2024 EPS estimates for shares of Rocket Pharmaceuticals in a note issued to investors on Tuesday, May 7th. Leerink Partnrs analyst M. Foroohar now forecasts that the biotechnology company will earn ($0.69) per share for the quarter, down from their previous estimate of ($0.49). The consensus estimate for Rocket Pharmaceuticals' current full-year earnings is ($2.94) per share. Leerink Partnrs also issued estimates for Rocket Pharmaceuticals' Q3 2024 earnings at ($0.43) EPS, Q4 2024 earnings at $0.08 EPS, FY2024 earnings at ($1.69) EPS and FY2025 earnings at ($0.54) EPS.

RCKT has been the topic of several other reports. UBS Group reduced their price target on Rocket Pharmaceuticals from $56.00 to $54.00 and set a "buy" rating on the stock in a research note on Friday, March 1st. The Goldman Sachs Group started coverage on shares of Rocket Pharmaceuticals in a research note on Tuesday, April 2nd. They set a "neutral" rating and a $39.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an "overweight" rating for the company in a research note on Tuesday, February 27th. Needham & Company LLC reissued a "buy" rating and issued a $53.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $52.13.

Rocket Pharmaceuticals Stock Down 2.6 %

Shares of RCKT stock traded down $0.61 during midday trading on Friday, reaching $22.72. 401,938 shares of the stock were exchanged, compared to its average volume of 709,394. Rocket Pharmaceuticals has a 1 year low of $14.89 and a 1 year high of $32.53. The firm has a market cap of $2.06 billion, a PE ratio of -8.13 and a beta of 1.12. The company's 50 day moving average is $25.35 and its two-hundred day moving average is $25.76. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings results on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.01. During the same quarter in the previous year, the firm posted ($0.73) EPS.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of large investors have recently made changes to their positions in RCKT. Amalgamated Bank boosted its holdings in shares of Rocket Pharmaceuticals by 5.4% in the fourth quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company's stock worth $259,000 after buying an additional 440 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Rocket Pharmaceuticals by 14.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company's stock worth $105,000 after acquiring an additional 633 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Rocket Pharmaceuticals by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 17,963 shares of the biotechnology company's stock valued at $538,000 after acquiring an additional 661 shares during the period. Torray Investment Partners LLC increased its stake in shares of Rocket Pharmaceuticals by 1.1% in the 4th quarter. Torray Investment Partners LLC now owns 60,856 shares of the biotechnology company's stock worth $1,824,000 after purchasing an additional 679 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in Rocket Pharmaceuticals by 5.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 15,955 shares of the biotechnology company's stock worth $327,000 after purchasing an additional 875 shares during the period. 98.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Gotham Makker sold 274,000 shares of the firm's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $28.43, for a total transaction of $7,789,820.00. Following the sale, the director now owns 365,912 shares of the company's stock, valued at approximately $10,402,878.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director David P. Southwell sold 10,000 shares of Rocket Pharmaceuticals stock in a transaction on Monday, April 15th. The stock was sold at an average price of $24.05, for a total value of $240,500.00. Following the completion of the sale, the director now owns 114,784 shares of the company's stock, valued at $2,760,555.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gotham Makker sold 274,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $28.43, for a total value of $7,789,820.00. Following the completion of the transaction, the director now directly owns 365,912 shares in the company, valued at approximately $10,402,878.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 414,935 shares of company stock worth $11,476,424. 31.10% of the stock is owned by corporate 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.