William Blair Weighs in on Rocket Pharmaceuticals, Inc.’s Q3 2024 Earnings (NASDAQ:RCKT)

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) – Equities researchers at William Blair lowered their Q3 2024 earnings per share estimates for Rocket Pharmaceuticals in a research report issued on Tuesday, August 6th. William Blair analyst S. Corwin now anticipates that the biotechnology company will post earnings of ($0.78) per share for the quarter, down from their prior estimate of ($0.73). William Blair 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.

A number of other equities research analysts have also weighed in on RCKT. Chardan Capital restated a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday. Canaccord Genuity Group cut their target price on Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $52.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.75.

Rocket Pharmaceuticals Stock Down 0.5 %

Rocket Pharmaceuticals stock traded down $0.09 during midday trading on Thursday, reaching $19.04. The stock had a trading volume of 645,759 shares, compared to its average volume of 757,338. The company has a current ratio of 10.47, a quick 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 company has a fifty day moving average price of $22.12 and a two-hundred day moving average price of $24.61. The company has a market capitalization of $1.73 billion, a P/E ratio of -6.63 and a beta of 1.13.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted 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 period last year, the business posted ($0.82) EPS.

Institutional Trading of Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of RCKT. Renaissance Technologies LLC purchased a new position in shares of Rocket Pharmaceuticals in the 2nd quarter valued at approximately $2,144,000. First Turn Management LLC lifted its position in Rocket Pharmaceuticals by 123.6% during the second quarter. First Turn Management LLC now owns 560,989 shares of the biotechnology company’s stock valued at $12,078,000 after buying an additional 310,119 shares during the period. Rice Hall James & Associates LLC boosted its stake in Rocket Pharmaceuticals by 4.0% during the second quarter. Rice Hall James & Associates LLC now owns 75,423 shares of the biotechnology company’s stock worth $1,624,000 after acquiring an additional 2,895 shares in the last quarter. Pier 88 Investment Partners LLC raised its position in shares of Rocket Pharmaceuticals by 71.7% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 30,900 shares of the biotechnology company’s stock worth $665,000 after purchasing an additional 12,900 shares during the last quarter. Finally, Torray Investment Partners LLC boosted its stake in Rocket Pharmaceuticals by 10.3% during the 2nd quarter. Torray Investment Partners LLC now owns 67,216 shares of the biotechnology company’s stock valued at $1,447,000 after purchasing an additional 6,283 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Gaurav Shah sold 9,790 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $23.35, for a total transaction of $228,596.50. Following the completion of the sale, the chief executive officer now directly owns 728,069 shares in the company, valued at approximately $17,000,411.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Gaurav Shah sold 9,790 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $23.35, for a total transaction of $228,596.50. Following the transaction, the chief executive officer now directly owns 728,069 shares of the company’s stock, valued at $17,000,411.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Andrew White sold 3,026 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was 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 directly owns 72,220 shares of the company’s stock, valued at approximately $1,472,565.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,755 shares of company stock valued at $358,654. 31.10% of the stock is currently owned by company insiders.

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.