SVB Leerink Weighs in on Rocket Pharmaceuticals, Inc.’s FY2022 Earnings (NASDAQ:RCKT)

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKTGet Rating) – Research analysts at SVB Leerink lowered their FY2022 EPS estimates for Rocket Pharmaceuticals in a report released on Monday, January 23rd. SVB Leerink analyst M. Foroohar now expects that the biotechnology company will post earnings of ($3.26) per share for the year, down from their previous estimate of ($2.75). SVB Leerink has a “Outperform” rating and a $49.00 price objective on the stock. The consensus estimate for Rocket Pharmaceuticals’ current full-year earnings is ($2.96) per share. SVB Leerink also issued estimates for Rocket Pharmaceuticals’ Q4 2022 earnings at ($0.88) EPS, FY2023 earnings at ($3.11) EPS, FY2024 earnings at $0.17 EPS, FY2025 earnings at $0.81 EPS and FY2026 earnings at $2.45 EPS.

Other analysts have also issued research reports about the stock. Canaccord Genuity Group assumed coverage on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 8th. They issued a “buy” rating and a $53.00 price target on the stock. UBS Group decreased their target price on shares of Rocket Pharmaceuticals from $68.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, September 27th. Canaccord Genuity Group assumed coverage on shares of Rocket Pharmaceuticals in a report on Monday, November 7th. They set a “buy” rating and a $53.00 target price on the stock. BTIG Research assumed coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, November 1st. They set a “buy” rating and a $35.00 target price on the stock. Finally, Evercore ISI upped their target price on shares of Rocket Pharmaceuticals from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, September 30th. One research analyst has rated the stock with a sell rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.45.

Rocket Pharmaceuticals Trading Up 7.7 %

NASDAQ RCKT opened at $22.02 on Wednesday. The company’s 50 day moving average is $19.65 and its 200-day moving average is $17.46. Rocket Pharmaceuticals has a 12-month low of $7.57 and a 12-month high of $23.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 10.31 and a quick ratio of 10.31.

Rocket Pharmaceuticals (NASDAQ:RCKTGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The biotechnology company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.10).

Hedge Funds Weigh In On Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new position in Rocket Pharmaceuticals in the 3rd quarter worth approximately $28,000. Great West Life Assurance Co. Can purchased a new position in Rocket Pharmaceuticals in the 3rd quarter worth approximately $40,000. Point72 Hong Kong Ltd purchased a new stake in shares of Rocket Pharmaceuticals in the 3rd quarter valued at $100,000. Amalgamated Bank purchased a new stake in shares of Rocket Pharmaceuticals in the 1st quarter valued at $106,000. Finally, Virtus ETF Advisers LLC boosted its stake in shares of Rocket Pharmaceuticals by 44.2% in the 2nd quarter. Virtus ETF Advisers LLC now owns 9,792 shares of the biotechnology company’s stock valued at $135,000 after purchasing an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Rocket Pharmaceuticals Company Profile

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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.

Further Reading

Earnings History and Estimates for Rocket Pharmaceuticals (NASDAQ:RCKT)

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