Q3 2024 EPS Estimates for Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Cut by William Blair

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – William Blair lowered their Q3 2024 earnings per share (EPS) estimates for shares of Rocket Pharmaceuticals in a research note issued on Tuesday, August 6th. William Blair analyst S. Corwin now expects that the biotechnology company will post earnings per share of ($0.78) for the quarter, down from their previous forecast of ($0.73). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Rocket Pharmaceuticals’ current full-year earnings is ($2.96) per share. William Blair also issued estimates for Rocket Pharmaceuticals’ Q4 2024 earnings at ($0.83) EPS, FY2024 earnings at ($3.02) EPS, Q1 2025 earnings at ($0.84) EPS, Q2 2025 earnings at ($0.79) EPS, Q3 2025 earnings at ($0.81) EPS, Q4 2025 earnings at ($0.77) EPS and FY2025 earnings at ($3.21) EPS.

Several other equities analysts also recently commented on the stock. Canaccord Genuity Group decreased their price target on shares of Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Chardan Capital restated a “buy” rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.75.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT traded down $0.09 during trading hours on Thursday, hitting $19.04. The company had a trading volume of 645,759 shares, compared to its average volume of 757,338. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -6.63 and a beta of 1.13. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.04. Rocket Pharmaceuticals has a 12 month low of $14.89 and a 12 month high of $32.53. The business has a fifty day moving average of $22.12 and a 200-day moving average of $24.61.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). During the same quarter in the previous year, the business posted ($0.82) EPS.

Insider Buying and Selling

In related news, insider Mark Andrew White sold 3,026 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $20.39, for a total value of $61,700.14. Following the sale, the insider now owns 72,220 shares of the company’s stock, valued at $1,472,565.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Gaurav Shah sold 9,790 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $23.35, for a total transaction of $228,596.50. Following the transaction, the chief executive officer now owns 728,069 shares in the company, valued at $17,000,411.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Andrew White sold 3,026 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $20.39, for a total value of $61,700.14. Following the completion of the sale, the insider now owns 72,220 shares of the company’s stock, valued at $1,472,565.80. The disclosure for this sale can be found here. Insiders have sold a total of 15,755 shares of company stock worth $358,654 in the last ninety days. Company insiders own 31.10% of the company’s stock.

Institutional Trading of Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCKT. Goldman Sachs Group Inc. grew its position in Rocket Pharmaceuticals by 12.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 594,665 shares of the biotechnology company’s stock valued at $17,822,000 after buying an additional 64,946 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Rocket Pharmaceuticals by 4.1% during the 1st quarter. Russell Investments Group Ltd. now owns 675,769 shares of the biotechnology company’s stock worth $18,205,000 after acquiring an additional 26,823 shares during the period. Franklin Resources Inc. increased its holdings in Rocket Pharmaceuticals by 60.8% in the 4th quarter. Franklin Resources Inc. now owns 1,072,910 shares of the biotechnology company’s stock worth $32,155,000 after acquiring an additional 405,855 shares during the last quarter. Avidity Partners Management LP lifted its holdings in Rocket Pharmaceuticals by 8.3% during the fourth quarter. Avidity Partners Management LP now owns 1,719,103 shares of the biotechnology company’s stock valued at $51,522,000 after purchasing an additional 131,674 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Rocket Pharmaceuticals during the fourth quarter worth about $332,000. 98.39% of the stock is owned by 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.