A month has gone by since the last earnings report for Rocket Pharmaceuticals (RCKT Quick QuoteRCKT - Free Report) . Shares have lost about 4.8% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Rocket Pharmaceuticals due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.

Narrower Than Expected Loss in Q1

Rocket reported a loss of 66 cents per share in the first quarter of 2024, narrower than the Zacks Consensus Estimate of a loss of 69 cents. In the year-ago quarter, the company posted a loss of 73 cents.

As the company lacks any marketed product in its portfolio, it did not record any revenues during the quarter.

Quarter in Detail

In the reported quarter, general and administrative (G&A) expenses rose 40% year over year to $22.1 million. The upside was driven by an increase in the company’s commercial preparation expenses in anticipation of a potential FDA approval for Kresladi in severe LAD-I.

Research and development (R&D) expenses were $45.2 million, down 2.5% from the year-ago quarter’s figure. The downside was due to a decline in manufacturing and development costs.

As of Mar 31, 2024, Rocket Pharmaceuticals had cash, cash equivalents and investments of $330.3 million compared with $407.5 million on Dec 31, 2023. Management expects this cash balance to fund operations and meet capital expenditure requirements into 2026.

How Have Estimates Been Moving Since Then?

It turns out, estimates revision have trended upward during the past month.

The consensus estimate has shifted -6.83% due to these changes.

VGM Scores

Currently, Rocket Pharmaceuticals has an average Growth Score of C, a grade with the same score on the momentum front. However, the stock was allocated a grade of F on the value side, putting it in the bottom 20% quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending upward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Rocket Pharmaceuticals has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry Player

Rocket Pharmaceuticals belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Qiagen (QGEN Quick QuoteQGEN - Free Report) , has gained 1.7% over the past month. More than a month has passed since the company reported results for the quarter ended March 2024.

Qiagen reported revenues of $458.8 million in the last reported quarter, representing a year-over-year change of -5.5%. EPS of $0.46 for the same period compares with $0.53 a year ago.

Qiagen is expected to post earnings of $0.51 per share for the current quarter, representing a year-over-year change of -3.8%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.3%.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Qiagen. Also, the stock has a VGM Score of D.