Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT – Get Rating) – Analysts at SVB Leerink cut their Q1 2023 earnings estimates for Rocket Pharmaceuticals in a note issued to investors on Monday, March 13th. SVB Leerink analyst M. Foroohar now expects that the biotechnology company will post earnings of ($0.83) per share for the quarter, down from their previous forecast of ($0.79). SVB Leerink currently has a “Outperform” rating and a $49.00 price objective on the stock. The consensus estimate for Rocket Pharmaceuticals’ current full-year earnings is ($3.30) per share. SVB Leerink also issued estimates for Rocket Pharmaceuticals’ Q2 2023 earnings at ($0.82) EPS, Q3 2023 earnings at ($0.81) EPS, Q4 2023 earnings at ($0.80) EPS, FY2023 earnings at ($3.25) EPS, FY2024 earnings at $0.19 EPS, FY2025 earnings at $0.84 EPS and FY2026 earnings at $2.50 EPS.
Rocket Pharmaceuticals (NASDAQ:RCKT – Get Rating) last released its earnings results on Monday, February 27th. The biotechnology company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.10). During the same period in the previous year, the business earned ($0.69) earnings per share.
Rocket Pharmaceuticals Stock Performance
Shares of Rocket Pharmaceuticals stock opened at $18.59 on Thursday. The business has a 50-day simple moving average of $20.22 and a 200-day simple moving average of $18.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 9.29 and a current ratio of 9.29. Rocket Pharmaceuticals has a one year low of $7.57 and a one year high of $23.48. The company has a market cap of $1.48 billion, a PE ratio of -5.65 and a beta of 1.23.
Insider Transactions at Rocket Pharmaceuticals
In related news, CEO Gaurav Shah sold 12,194 shares of the firm’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $19.06, for a total value of $232,417.64. Following the completion of the sale, the chief executive officer now owns 536,885 shares in the company, valued at $10,233,028.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Gaurav Shah sold 12,194 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $19.06, for a total value of $232,417.64. Following the sale, the chief executive officer now directly owns 536,885 shares in the company, valued at $10,233,028.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jonathan David Schwartz sold 3,557 shares of the stock in a transaction on Friday, February 17th. The stock was sold at an average price of $19.06, for a total value of $67,796.42. Following the completion of the transaction, the insider now owns 94,546 shares of the company’s stock, valued at approximately $1,802,046.76. The disclosure for this sale can be found here. Company insiders own 33.67% of the company’s stock.
Institutional Trading of Rocket Pharmaceuticals
Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in Rocket Pharmaceuticals by 22.6% in the first quarter. JPMorgan Chase & Co. now owns 837,915 shares of the biotechnology company’s stock valued at $13,289,000 after buying an additional 154,739 shares in the last quarter. HighTower Advisors LLC raised its holdings in Rocket Pharmaceuticals by 30.3% during the first quarter. HighTower Advisors LLC now owns 21,000 shares of the biotechnology company’s stock worth $336,000 after purchasing an additional 4,879 shares during the last quarter. MetLife Investment Management LLC boosted its position in Rocket Pharmaceuticals by 56.6% during the first quarter. MetLife Investment Management LLC now owns 22,975 shares of the biotechnology company’s stock worth $364,000 after purchasing an additional 8,301 shares in the last quarter. Rhumbline Advisers grew its holdings in Rocket Pharmaceuticals by 3.7% in the first quarter. Rhumbline Advisers now owns 44,652 shares of the biotechnology company’s stock valued at $708,000 after purchasing an additional 1,575 shares during the last quarter. Finally, Synovus Financial Corp increased its position in shares of Rocket Pharmaceuticals by 29.4% in the first quarter. Synovus Financial Corp now owns 82,236 shares of the biotechnology company’s stock valued at $1,306,000 after buying an additional 18,663 shares in the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.
About Rocket Pharmaceuticals
Rocket Pharmaceuticals, Inc is a clinical-stage biotechnology company, which engages in the development of gene therapy treatment options for rare and devastating pediatric diseases. Its multi-platform development approach applies the lentiviral vector and adeno-associated viral vector gene therapy platforms.
- Get a free copy of the StockNews.com research report on Rocket Pharmaceuticals (RCKT)
- Don’t Miss Out: $2 Trillion Could be Headed to the Banking Sector
- A Weakening Economy Suggests Caution Before Buying Five Below
- Williams-Sonoma: Time To Buy At Rock-Bottom Prices
- Why DraftKings Could Keep Outperforming in 2023
- Charles Schwab And The Safest 30% You Can Make This Year
Receive News & Ratings for Rocket Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.