Rocket Pharmaceuticals (RCKT) Company Overview

Rocket Pharmaceuticals (RCKT) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.

Shares of Rocket Pharmaceuticals (RCKT) jumped 5.5% intraday Wednesday as Jefferies initiated coverage of the biotech company with a "buy" rating on optimism about the experimental drugs in its pipeline. Jefferies also set a price target of $29, more than double its current value.

On Monday, Rocket Pharmaceuticals, Inc. RCKT presented long-term safety and efficacy results from the Phase 1 study of RP-A501 in male patients with Danon disease.

RCKT incurs narrower-than-expected third-quarter 2024 loss. The company provides updates on its pipeline candidates.

Enrollment completed for pivotal single-arm phase 2 study, using RP-A501 for the treatment of male patients with Danon disease. Promise for RP-A501 program lies with the potential to receive FDA Accelerated Approval for the treatment of male patients with Danon disease. The Danon disease treatment market is expected to reach $2.82 billion by 2030.

The recent regulatory setbacks related to RCKT's pipeline candidate, Kresladi (marnetegragene autotemcel) weigh heavily on the stock.

Per the FDA, Rocket (RCKT) needs to submit additional manufacturing information on Kresladi gene therapy to secure approval for severe leukocyte adhesion deficiency-I (LAD-I), a rare genetic disorder.

Rocket Pharmaceuticals (RCKT) shares declined in intraday trading Friday after the biopharmaceutical firm announced that the Food and Drug Administration (FDA) wants more data about its gene therapy to treat a rare immune disorder in children before granting approval.

Rocket Pharmaceuticals (RCKT) reported earnings 30 days ago. What's next for the stock?