The term "rogue nation" is used by the United States to refer to a handful of countries that are considered to be a threat. Typically these are countries that are considered to be pursuing weapons of mass destruction, sponsoring terrorism, and abusing their own citizens. The problem with labeling a nation as rogue is that it could be misused and applied to any nation that simply opposes the U.S. without posing a wider threat. Yes, "rogue nations" can be thought of as a sovereign nation because sovereignty means governing absolutely, without being governed by an outside force.
If a rogue nation can maintain a stable government, and clearly identify its borders, It can be sovereign. Perhaps not in a political sense, or in the eyes of other nations, but at least in a philosophical sense. Sovereignty is independence, so if a nation can establish that then they should be consider sovereign.
Rogue nations may not be pretty, but they have the right to exist just as much as nations who are stable and peaceful. Places such as Iran and North Korea aren't inherently evil--citizenry doesn't necessarily reflect leadership. Only the citizens of such rogue nations have the right to overthrow the leaders who are considered rogue unless another country is invaded by the rogue nation.
A sovereign nation is one which has permanent government, population, and the ability to enter into relationships with other nations in a non-dependent manner. This does not rule out so-called "rogue nations" from being sovereign. However, their rights as a power in the international community are subject to treaties and international law, and regardless of sovereignty should be treated in accordance.
A rogue nation can be thought of as a sovereign nation, but it is not always the case. A rogue nation should only be viewed as a sovereign nation if the country is self-sufficient and operates on its own merit, resources and government. However, a rogue nation which oversteps its boundaries is likely to face opposition from other nations that may threaten its sovereignty.