Q3 2023 EPS Estimates for Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Lifted by Leerink Partnrs

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Analysts at Leerink Partnrs lifted their Q3 2023 EPS estimates for shares of Rocket Pharmaceuticals in a report issued on Wednesday, September 13th. Leerink Partnrs analyst M. Foroohar now anticipates that the biotechnology company will post earnings of ($0.65) per share for the quarter, up from their previous forecast of ($0.75). The consensus estimate for Rocket Pharmaceuticals’ current full-year earnings is ($3.19) per share. Leerink Partnrs also issued estimates for Rocket Pharmaceuticals’ Q4 2023 earnings at ($0.62) EPS, FY2023 earnings at ($2.80) EPS and FY2024 earnings at $0.18 EPS.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Thursday, August 10th. The biotechnology company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.81) by ($0.01). During the same quarter in the previous year, the business posted ($0.83) EPS.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 price objective on shares of Rocket Pharmaceuticals in a report on Wednesday. Canaccord Genuity Group reduced their target price on shares of Rocket Pharmaceuticals from $49.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, August 11th. Chardan Capital reiterated a “buy” rating and issued a $61.00 target price on shares of Rocket Pharmaceuticals in a research report on Friday, August 11th. Needham & Company LLC reduced their target price on shares of Rocket Pharmaceuticals from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, StockNews.com upgraded shares of Rocket Pharmaceuticals to a “sell” rating in a research report on Monday. One analyst has rated the stock with a sell rating and twelve 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 $49.45.

Rocket Pharmaceuticals Stock Up 13.3 %

RCKT opened at $24.05 on Friday. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.05. Rocket Pharmaceuticals has a 52-week low of $11.78 and a 52-week high of $24.65. The firm’s fifty day simple moving average is $17.31 and its two-hundred day simple moving average is $18.87.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Clearstead Advisors LLC purchased a new position in shares of Rocket Pharmaceuticals in the first quarter valued at approximately $32,000. Advisor Group Holdings Inc. boosted its stake in shares of Rocket Pharmaceuticals by 861.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,923 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 1,723 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $39,000. Wells Fargo & Company MN lifted its stake in Rocket Pharmaceuticals by 63.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,644 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 1,031 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY lifted its stake in Rocket Pharmaceuticals by 24.0% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,205 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 621 shares during the last quarter. Hedge funds and other institutional investors own 94.49% of the company’s stock.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 4,767 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $15.47, for a total transaction of $73,745.49. Following the completion of the transaction, the chief executive officer now owns 524,854 shares of the company’s stock, valued at $8,119,491.38. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 6,874 shares of company stock valued at $108,381 over the last 90 days. 31.10% of the stock is owned by company insiders.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform 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.