Short interest for Rocket Pharmaceuticals gives investors a sense of the degree to which investors are betting on the decline of Rocket Pharmaceuticals's stock. Short interest data is updated every two weeks.

Rocket Pharmaceuticals Stock (NASDAQ:RCKT), Short Interest Report

Rocket Pharmaceuticals

Rocket Pharmaceuticals Inc is a late-stage biopharmaceutical company. It is focused on the development of gene therapies for rare and devastating pediatric diseases. The pipeline products of the company include RP-A501 for Danaon Disease, RP-L102 for Fanconi Anemia, RP-L201 for Leukocyte Adhesion, RP-L301 for Pyruvate Kinase Deficiency, and RP-L401 for Infantile Malignant Osteopetrosis.

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RCKT

Investors might want to bet on Rocket Pharmaceuticals (NASDAQ: RCKT), as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.

Rocket Pharmaceuticals Upgraded to Buy: Here&#39;s Why

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U.S. stock futures traded lower this morning, with the Dow Jones futures falling more than 40 points on Monday.

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Rocket Pharmaceuticals, Inc. - Common Stock

Rocket Pharmaceuticals Inc

ROCK TECH LINTHIUM INC by Rock Tech Lithium Inc.

Rock Tech Lithium Inc

An internal review released Friday revealed significant challenges, to put it nicely, plaguing <a href="https://www.benzinga.com/topic/new-york-cannabis">New York&#8217;s legal cannabis market</a>.
The issues are primarily attributed to inexperienced leadership within the state&#8217;s Office of Cannabis Management (OCM). The report was blunt, calling the OCM a &#8220;mission-driven&#8221; startup rather than a competent government office. 
Governor Kathy Hochul then proceeded to fire Chris Alexander, the head of the OCM.
The report noted that the OCM was staffed with inexperienced leadership, lacked a transparent process for licensing new dispensaries and had virtually no customer service for licensees.
"The majority of OCM's most senior leadership has relatively limited experience in leading regulatory entities, and the agency has experienced significant turnover in executive roles," the report reads.
"It has struggled to make the transition to a mature regulatory agency," noted the report, which was produced by Office of General Services Commissioner Jeanette Moy and obtained by the <a href="https://nypost.com/2024/05/10/us-news/damning-internal-report-rips-hochuls-cannabis-agency/">NY Post</a> before being released publicly Friday.
The report highlighted "implementation challenges" that "resulted in confusion, difficulties, and delays for well-intentioned line staff as well as applicants," referring to the complicated hoops potential licensees have had to jump through.
Other key problems within the OCM included erratic changes in licensing regulations, a lack of transparency and ineffective enforcement measures. These issues have not only hindered the legal cannabis market but have also fostered the proliferation of unlicensed cannabis shops across New York state. The Big Apple alone has more than 2,000 illicit shops according the local authorities.
Hochul, recognizing the severity of the situation, <a href="https://www.benzinga.com/markets/cannabis/24/03/37776915/new-york-gov-hochul-orders-review-of-cannabis-licensing-process-after-numerous-setbacks">ordered a comprehensive review in March</a> to address the bureaucratic hurdles and legal setbacks faced by the OCM. 
At the time, she called the program a &#8220;disaster.&#8221;
Despite initial intentions to prioritize <a href="https://www.benzinga.com/markets/cannabis/23/03/31398249/new-york-marijuana-regulators-sued-by-big-players-for-alleged-violation-of-state-cannabis-law">social equity</a> by allocating licenses to nonprofits and individuals with prior convictions or those who suffered from the War on Drugs, the process was marred by <a href="https://www.benzinga.com/markets/cannabis/23/08/33617244/the-debacle-called-ny-cannabis-market-state-supreme-court-halts-new-retail-licenses-following-ve">lawsuits</a>, delays and regulatory inconsistencies.
The OCM's chief equity officer Damian Fagon also happens to be on administrative leave pending an ongoing internal investigation that he retaliated against a&nbsp;Hudson Valley cannabis processor&nbsp;who was critical of OCM.
At this point, with only a limited number of legal cannabis dispensaries operating since late 2022, the illegal market has thrived. Unlicensed retailers who seem to operate with impunity are undermining the legal framework – a situation the OCM seemed incapable of controlling.
The report outlined various policy solutions to address the agency&#8217;s challenges, including the recruitment of experienced staff, streamlining licensing processes, and engaging in public outreach efforts to identify and rectify issues.
Photo courtesy of OCM

Cannabis

Government

Regulations

Politics

Scathing Internal Report Exposes New York's Cannabis Agency As Inexperienced, Irresponsible, Ineffective: Heads Are Rolling

Mitek Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MITK#NASDAQ">MITK</a>) reported quarterly earnings of $0.01 per share which missed the analyst consensus estimate of $0.27 by 96.3 percent. This is a 96.55 percent decrease over earnings of $0.29 per share from the same period last year. The company reported quarterly sales of $46.97 million which beat the analyst consensus estimate of $46.44 million by 1.13 percent. This is a 3.65 percent increase over sales of $45.31 million the same period last year.

Earnings Beats

Earnings Misses

MITK

Mitek Systems Q2 EPS $0.01 Misses $0.27 Estimate, Sales $46.97M Beat $46.44M Estimate

Siebert Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIEB#NASDAQ">SIEB</a>) reported quarterly losses of $(0.03) per share. This is a 130 percent decrease over earnings of $0.10 per share from the same period last year. The company reported $19.70 million in sales this quarter. This is a 21.84 percent increase over sales of $16.17 million the same period last year.

SIEB

Siebert Finl Q1 EPS $(0.03) Down From $0.10 YoY, Sales $19.70M Up From $16.17M YoY

A recent Beacon Securities report focuses on Curaleaf&#39;s strategic financial management and the potential impacts of legislative changes on its operations. Concurrently, Needham&#39;s report highlights Trulieve&#39;s operational strengths and projected growth, emphasizing the company&#39;s adeptness in navigating regulatory landscapes and capitalizing on market opportunities.
<h2>Curaleaf&#39;s Strategic Gains Amidst Modest Revenue Growth</h2>
According to Beacon&rsquo;s report, Curaleaf Holdings Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>) demonstrated strategic resilience in the first quarter of 2024, recording <a href="https://www.benzinga.com/markets/cannabis/24/05/38748891/curaleaf-reports-q1-2024-revenue-of-339m-48-gross-margin-amid-strategic-global-expansion">revenues of $339 million and adjusted EBITDA of $77 million</a>. Although these figures slightly missed the consensus estimates, they surpassed Beacon Securities&#39; forecast, signaling robust operational efficiencies.
The adjusted gross margins saw a quarter-over-quarter increase of 117 basis points, indicative of improved asset utilization across their cultivation and manufacturing operations. Despite a slight decrease in vertical mix affecting overall margins, Curaleaf&#39;s operational adjustments led to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38656307/big-players-in-u-s-cannabis-could-play-the-stock-value-card-in-m-a-new-report-shows">stronger EBITDA margins</a> than anticipated.
Russell Stanley of <a href="https://beaconsecurities.ca/">Beacon </a>highlighted the company&#39;s adept management of operating cash flows which facilitated a significant <a href="https://www.benzinga.com/markets/cannabis/24/05/38603896/credit-check-what-does-dea-rescheduling-mean-for-cannabis-credit-ratings-big-companies-risk-retu">debt</a> repurchase post-quarter, enhancing its financial stability. Additionally, Russell considered the potential benefits from the <a href="https://www.benzinga.com/markets/cannabis/24/05/38597432/new-tax-rules-in-cannabis-what-are-the-consequences-dea-rescheduling">expected rescheduling of cannabis </a>and the implications of the SAFER Banking Act are poised to create a favorable financial landscape for Curaleaf.
<h3>Trulieve&#39;s Profitability</h3>
Concurrently, Trulieve Cannabis Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>) reported a commendable start to 2024, with first-quarter revenues climbing to $297.6 million, outpacing expectations. According to Matt McGinley from <a href="https://www.needhamco.com/">Needham</a>, the company achieved the highest gross margin and EBITDA rates observed in over two years, at 58.4% and 35.5% respectively. This improvement is largely attributed to stabilized pricing and cost reductions in their Florida operations.
Trulieve&#39;s fiscal prudence was evident in their management of operating cash flow, which included a notable $96 million relating to 280E tax refunds, underscoring their adept navigation of regulatory landscapes to bolster financial health.
<h2>Projections</h2>
<h3>Curaleaf&#39;s Strategic Financial Management</h3>
Stanley and his team at Beacon Securities are optimistic about Curaleaf&#39;s ability to capitalize on impending <a href="https://www.benzinga.com/markets/cannabis/24/05/38559933/billions-on-the-move-tracking-market-cap-changes-in-top-cannabis-firms-after-dea-rescheduling-an">legislative reforms</a>. With the anticipated rescheduling of cannabis and the potential enactment of the SAFER Banking Act, Curaleaf is expected to gain considerable operational advantages. These changes could potentially increase the company&#39;s operating cash flow by 92% and free cash flow by 188%, thereby substantially <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38657697/post-cannabis-rescheduling-whats-next-for-marijuana-giants-potential-1-1b-cash-flow">boosting profitability</a> and enhancing shareholder returns.
Scanning through cannabis spreadsheets can take some time. To learn more about investing, don&#39;t miss the opportunity to join us at the&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/?UTM_source=article" target="_blank">19th Benzinga Cannabis Capital Conference</a>&nbsp;in Chicago this October 8-9. Engage with top executives, investors, policymakers, and advocates to explore the industry&#39;s future. Secure your tickets now before prices increase by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank">this link</a>.
<h3>Trulieve&#39;s Operations And Future Prospects</h3>
On the other hand, Needham&#39;s Matt McGinley praises <a href="https://www.benzinga.com/markets/cannabis/24/05/38730627/medical-marijuana-giant-trulieve-backer-of-floridas-recreational-cannabis-ballot-narrows-loss-re">Trulieve Cannabis Corp. </a>for its operational excellence, which he believes sets the company up for a successful financial year. He highlights Trulieve&#39;s record-setting gross margins and EBITDA rates at the beginning of 2024, attributing these achievements to the company&#39;s rigorous operational efficiencies and cost management strategies.
Moreover, he points to significant potential for growth in revenue stemming from <a href="https://www.benzinga.com/markets/cannabis/24/04/38531355/cannabis-stocks-and-etfs-surge-as-dea-moves-to-reschedule-marijuana">legislative advancements</a> in key markets like <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38470560/landing-in-floridas-cannabis-market-legal-adult-use-marijuana-could-yield-874m-in-2">Florida</a> and <a href="https://www.benzinga.com/topic/pennsylvania-cannabis">Pennsylvania</a>, which may transition to adult-use cannabis. This <a href="https://www.benzinga.com/markets/cannabis/24/05/38655829/cannabis-stocks-retreat-on-new-rescheduling-order-developments-whats-going-on">potential market expansion</a> could dramatically increase Trulieve&rsquo;s revenue base, potentially doubling it in these regions.
Photo: AI-Generated Image.&nbsp;

Analyst Color

Mid Cap

Retail Sales

Management

Analyst Ratings

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

TCNNF

Cannabis Reports Highlight $339M And $297.6M Revenue Insights In Curaleaf And Trulieve's Q1 2024 Financials

Loop Capital analyst Alton Stump maintains Papa John's International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) with a Buy and lowers the price target from $97 to $90.

Price Target

PZZA

Loop Capital Maintains Buy on Papa John's International, Lowers Price Target to $90

Loop Capital analyst Jeffrey Stevenson maintains Installed Building Prods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBP#NYSE">IBP</a>) with a Buy and raises the price target from $250 to $270.

Loop Capital Maintains Buy on Installed Building Prods, Raises Price Target to $270

Loop Capital analyst Chris Dankert maintains Emerson Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>) with a Buy and raises the price target from $130 to $135.

Loop Capital Maintains Buy on Emerson Electric, Raises Price Target to $135

CIBC analyst Chris Couprie maintains GRANITE REAL ESTATE INVESTMENT TR (TSX:<a class="ticker" href="https://www.benzinga.com/stock/GRT#TSX">GRT</a>) with a Outperformer and raises the price target from C$84 to C$85.

TSX:GRT

CIBC Maintains Outperformer on GRANITE REAL ESTATE INVESTMENT TR, Raises Price Target to C$85

CIBC analyst Paul Holden maintains Manulife Financial (TSX:<a class="ticker" href="https://www.benzinga.com/stock/MFC#TSX">MFC</a>) with a Neutral and raises the price target from C$34 to C$36.

TSX:MFC

CIBC Maintains Neutral on Manulife Financial, Raises Price Target to C$36

Needham analyst Serge Belanger maintains Xenon Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XENE#NASDAQ">XENE</a>) with a Buy and maintains $62 price target.

XENE

Needham Maintains Buy on Xenon Pharmaceuticals, Maintains $62 Price Target

Wedbush analyst Nick Setyan maintains The One Group Hospitality (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STKS#NASDAQ">STKS</a>) with a Neutral and raises the price target from $5 to $6.

STKS

Wedbush Maintains Neutral on The One Group Hospitality, Raises Price Target to $6

CLSA analyst Elinor Leung upgrades Bilibili (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>) from Outperform to Buy and raises the price target from $12.2 to $16.8.

Upgrades

BILI

CLSA Upgrades Bilibili to Buy, Raises Price Target to $16.8

Citigroup analyst Ygal Arounian maintains Ziff Davis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZD#NASDAQ">ZD</a>) with a Neutral and lowers the price target from $74 to $62.

Citigroup Maintains Neutral on Ziff Davis, Lowers Price Target to $62

Citigroup analyst Jon Tower maintains Sweetgreen (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SG#NYSE">SG</a>) with a Neutral and raises the price target from $25 to $28.

Citigroup Maintains Neutral on Sweetgreen, Raises Price Target to $28

Citigroup analyst David Hoang maintains Xenon Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XENE#NASDAQ">XENE</a>) with a Buy and lowers the price target from $62 to $60.

Citigroup Maintains Buy on Xenon Pharmaceuticals, Lowers Price Target to $60

Citigroup analyst Jason Bazinet maintains AppLovin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) with a Buy and raises the price target from $80 to $98.

Citigroup Maintains Buy on AppLovin, Raises Price Target to $98

Citigroup analyst David Lebowitz maintains Intellia Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTLA#NASDAQ">NTLA</a>) with a Neutral and lowers the price target from $31 to $29.

NTLA

Citigroup Maintains Neutral on Intellia Therapeutics, Lowers Price Target to $29

Citigroup analyst Drew Foster maintains HubSpot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBS#NYSE">HUBS</a>) with a Buy and lowers the price target from $798 to $767.

HUBS

Citigroup Maintains Buy on HubSpot, Lowers Price Target to $767

Citigroup analyst George Kurosawa maintains SPS Commerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPSC#NASDAQ">SPSC</a>) with a Buy and raises the price target from $213 to $222.

SPSC

Citigroup Maintains Buy on SPS Commerce, Raises Price Target to $222

CORRECTION: &nbsp;Benchmark analyst Cody Acree reiterates Tower Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSEM#NASDAQ">TSEM</a>) with a Buy and raises the price target from $40 to $50. - Price Target Change updated

Reiteration

TSEM

CORRECTION: Benchmark Reiterates Buy on Tower Semiconductor, Raises Price Target to $50 – Price Target Change updated

Rocket Pharmaceuticals: Cautiously Optimistic (Rating Upgrade)

Needham analyst Gil Blum maintained a Buy rating on Rocket Pharmaceuticals (RCKT – Research Report) today and set a price target of $53.00. Gil Blu...

Optimistic Buy Rating for Rocket Pharmaceuticals Based on Strong Gene Therapy Pipeline and Expert Leadership

Baron Health Care Fund Q1 2024 Shareholder Letter

Rocket Pharmaceuticals GAAP EPS of -$0.66 beats by $0.01

William Blair analyst Sami Corwin maintained a Buy rating on Rocket Pharmaceuticals (RCKT – Research Report) today. The company's shares closed tod...

Rocket Pharmaceuticals (RCKT) Receives a Buy from William Blair

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Rocket Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/rckt-stock-quote/">RCKT</a>) just reported results for the first quarter of 2024.<ul><li>Rocket Pharmaceuticals reported earnings per share of -66 cents. This was above the analyst estimate for EPS of -69 cents.</li><li>The company did not report any revenue for the quarter.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/05/rckt-stock-earnings-rocket-pharmaceuticals-for-q1-of-2024/">RCKT Stock Earnings: Rocket Pharmaceuticals Beats EPS for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

RCKT Stock Earnings: Rocket Pharmaceuticals Beats EPS for Q1 2024

Canaccord Genuity analyst Whitney Ijem maintained a Buy rating on Rocket Pharmaceuticals (RCKT – Research Report) yesterday and set a price target ...

Rocket Pharmaceuticals: A Strong Buy on Regulatory Progress and Solid Financials

There's a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on MoonLake Immunotherapeutics (MLTX – Research Report)...

Analysts Are Bullish on These Healthcare Stocks: MoonLake Immunotherapeutics (MLTX), Rocket Pharmaceuticals (RCKT)

Leerink Partners analyst Mani Foroohar has maintained their bullish stance on RCKT stock, giving a Buy rating yesterday. Mani Foroohar's rating is ...

Optimistic Outlook for Rocket Pharmaceuticals with Advancing Pipeline and Solid Financials

There's a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Vir Biotechnology (VIR – Research Report), Rocket Ph...

Analysts' Top Healthcare Picks: Vir Biotechnology (VIR), Rocket Pharmaceuticals (RCKT)

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BNTX

EXAS

GPCR

ICLR

IMVT

IRTC

ISRG

LEGN

MLTX

NEOG

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VKTX

VRTX

Press Releases

Rocket Pharmaceuticals Appoints R. Keith Woods to Board of Directors

Rocket Pharmaceuticals to Present at 42nd Annual J.P. Morgan Healthcare Conference

Rocket Pharmaceuticals Announces Update on FDA Review Timeline of KRESLADI™ (marnetegragene autotemcel) for the Treatment of Severe Leukocyte Adhesion Deficiency-I (LAD-I)

Rocket Pharmaceuticals Reports Fourth Quarter and Full Year 2023 Financial Results and Highlights Recent Progress

Opinion

Thinking about trading options or stock in Snowflake, Palantir Technologies, Rocket Pharmaceuticals, Fortinet, or Marathon Digital?

Thinking about buying stock in Ocean Biomedical, CASI Pharmaceuticals, Cardiol Therapeutics, Geron, or Rocket Pharmaceuticals?

Rocket Pharmaceuticals Announces Appointment of Aaron Ondrey as Chief Financial Officer and Additional Updates to Corporate Leadership Team

Rocket Pharmaceuticals Announces European Medicines Agency Acceptance of RP-L102 Marketing Authorization Application for the Treatment of Fanconi Anemia

Rocket Pharmaceuticals Reports First Quarter 2024 Financial Results and Highlights Recent Progress

Rocket Pharmaceuticals Presents Positive Data from LV Hematology Portfolio at the 27th Annual Meeting of the American Society of Gene and Cell Therapy (ASGCT)

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Rocket Pharmaceuticals Stock (NASDAQ:RCKT), Short Interest Report

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