Brokers Set Expectations for Rocket Pharmaceuticals Inc’s FY2019 Earnings (NASDAQ:RCKT)

Rocket Pharmaceuticals Inc (NASDAQ:RCKT) – Analysts at Oppenheimer increased their FY2019 earnings estimates for Rocket Pharmaceuticals in a research note issued on Sunday, November 10th. Oppenheimer analyst E. Rajavelu now anticipates that the biotechnology company will post earnings per share of ($1.89) for the year, up from their prior forecast of ($2.43). Oppenheimer has a “Outperform” rating and a $37.00 price objective on the stock. Oppenheimer also issued estimates for Rocket Pharmaceuticals’ Q4 2019 earnings at ($0.69) EPS, Q1 2020 earnings at ($0.86) EPS, Q2 2020 earnings at ($0.85) EPS, Q3 2020 earnings at ($0.80) EPS, Q4 2020 earnings at ($0.88) EPS and FY2020 earnings at ($3.45) EPS.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.11.

Other equities analysts have also issued research reports about the company. ValuEngine lowered Rocket Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Chardan Capital initiated coverage on Rocket Pharmaceuticals in a research report on Tuesday, November 5th. They issued a “buy” rating and a $30.00 price target for the company. Piper Jaffray Companies initiated coverage on Rocket Pharmaceuticals in a research report on Thursday, September 26th. They issued an “overweight” rating for the company. William Blair reaffirmed a “buy” rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, September 10th. Finally, Zacks Investment Research lowered Rocket Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, October 26th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Rocket Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $28.33.

RCKT opened at $15.72 on Wednesday. The stock has a 50-day moving average price of $13.21 and a 200-day moving average price of $14.14. The company has a debt-to-equity ratio of 0.18, a current ratio of 17.48 and a quick ratio of 17.48. The firm has a market cap of $823.70 million, a PE ratio of -8.32 and a beta of 2.74. Rocket Pharmaceuticals has a 1 year low of $10.75 and a 1 year high of $20.79.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCKT. Perceptive Advisors LLC increased its holdings in Rocket Pharmaceuticals by 331.6% in the 2nd quarter. Perceptive Advisors LLC now owns 1,977,412 shares of the biotechnology company’s stock worth $29,661,000 after buying an additional 1,519,239 shares in the last quarter. Vivo Capital LLC bought a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter valued at about $11,801,000. Westfield Capital Management Co. LP bought a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter valued at about $8,462,000. BlackRock Inc. grew its stake in shares of Rocket Pharmaceuticals by 21.1% during the 2nd quarter. BlackRock Inc. now owns 2,563,600 shares of the biotechnology company’s stock valued at $38,455,000 after purchasing an additional 447,257 shares during the period. Finally, Cormorant Asset Management LP grew its stake in shares of Rocket Pharmaceuticals by 22.0% during the 2nd quarter. Cormorant Asset Management LP now owns 2,074,595 shares of the biotechnology company’s stock valued at $31,119,000 after purchasing an additional 374,595 shares during the period. Institutional investors own 96.78% of the company’s stock.

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 pediatric diseases. It has clinical-stage lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; and leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction It also has additional pre-clinical stage LVV programs include pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia; and infantile malignant osteopetrosis, a genetic disorder characterized by increased bone density and bone mass secondary to impaired bone resorption.

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

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