What is Chardan Capital’s Forecast for RCKT FY2024 Earnings?

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Equities research analysts at Chardan Capital increased their FY2024 earnings per share (EPS) estimates for shares of Rocket Pharmaceuticals in a research note issued on Monday, November 11th. Chardan Capital analyst Y. Livshits now anticipates that the biotechnology company will post earnings per share of ($2.80) for the year, up from their previous estimate of ($2.97). Chardan Capital currently has a “Buy” rating and a $62.00 price objective on the stock. The consensus estimate for Rocket Pharmaceuticals’ current full-year earnings is ($2.92) per share. Chardan Capital also issued estimates for Rocket Pharmaceuticals’ FY2025 earnings at ($2.75) EPS.

A number of other brokerages have also issued reports on RCKT. JPMorgan Chase & Co. boosted their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 target price on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Scotiabank assumed coverage on Rocket Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $52.00 target price on shares of Rocket Pharmaceuticals in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

Rocket Pharmaceuticals Stock Performance

NASDAQ:RCKT opened at $15.67 on Thursday. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -5.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 7.79. Rocket Pharmaceuticals has a 1-year low of $15.65 and a 1-year high of $32.53. The firm’s fifty day moving average price is $17.91 and its 200 day moving average price is $20.29.

Institutional Trading of Rocket Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its holdings in shares of Rocket Pharmaceuticals by 4.1% during the first quarter. Russell Investments Group Ltd. now owns 675,769 shares of the biotechnology company’s stock worth $18,205,000 after buying an additional 26,823 shares in the last quarter. Novo Holdings A S boosted its holdings in shares of Rocket Pharmaceuticals by 4.8% during the second quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock worth $23,683,000 after purchasing an additional 50,000 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Rocket Pharmaceuticals in the second quarter valued at $2,144,000. Maverick Capital Ltd. increased its stake in shares of Rocket Pharmaceuticals by 1.0% during the 2nd quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company’s stock valued at $84,577,000 after acquiring an additional 40,000 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Rocket Pharmaceuticals by 73.5% in the third quarter. Harbor Capital Advisors Inc. now owns 168,506 shares of the biotechnology company’s stock valued at $3,112,000 after acquiring an additional 71,372 shares during the last quarter. 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.