Wedbush Analysts Boost Earnings Estimates for Scholar Rock Holding Co. (NASDAQ:SRRK)

Scholar Rock Holding Co. (NASDAQ:SRRK) – Analysts at Wedbush increased their Q3 2024 EPS estimates for Scholar Rock in a research report issued to clients and investors on Monday, October 7th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings per share of ($0.54) for the quarter, up from their prior estimate of ($0.65). Wedbush has a “Outperform” rating and a $37.00 price objective on the stock. The consensus estimate for Scholar Rock’s current full-year earnings is ($2.39) per share. Wedbush also issued estimates for Scholar Rock’s Q4 2024 earnings at ($0.50) EPS, FY2024 earnings at ($2.24) EPS, FY2026 earnings at ($1.22) EPS, FY2027 earnings at ($0.12) EPS and FY2028 earnings at $0.33 EPS.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.01. During the same period last year, the firm earned ($0.47) EPS.

A number of other research analysts have also recently issued reports on the stock. HC Wainwright boosted their price objective on shares of Scholar Rock from $30.00 to $35.00 and gave the company a “buy” rating in a report on Monday. BMO Capital Markets boosted their price target on shares of Scholar Rock from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. dropped their price objective on Scholar Rock from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $27.75.

Scholar Rock Price Performance

Scholar Rock stock opened at $27.77 on Wednesday. The firm has a market capitalization of $2.21 billion, a P/E ratio of -13.29 and a beta of 0.82. The business has a 50-day moving average of $10.01 and a 200-day moving average of $10.99. The company has a current ratio of 6.04, a quick ratio of 6.04 and a debt-to-equity ratio of 0.36. Scholar Rock has a 1 year low of $6.48 and a 1 year high of $35.38.

Insider Buying and Selling

In other Scholar Rock news, insider Tracey Sacco sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the sale, the insider now owns 49,285 shares in the company, valued at approximately $1,262,681.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Scholar Rock news, insider Tracey Sacco sold 30,000 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $25.62, for a total transaction of $768,600.00. Following the sale, the insider now directly owns 49,285 shares of the company’s stock, valued at $1,262,681.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $29.25, for a total value of $34,389,605.25. Following the completion of the transaction, the director now owns 5,612,896 shares of the company’s stock, valued at $164,177,208. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,415,340 shares of company stock valued at $40,666,088. Company insiders own 26.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. American International Group Inc. grew its holdings in Scholar Rock by 3.0% during the first quarter. American International Group Inc. now owns 28,407 shares of the company’s stock worth $505,000 after purchasing an additional 834 shares during the period. Jennison Associates LLC increased its holdings in shares of Scholar Rock by 1.0% during the 1st quarter. Jennison Associates LLC now owns 138,458 shares of the company’s stock worth $2,459,000 after acquiring an additional 1,409 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of Scholar Rock by 3.6% during the 2nd quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company’s stock worth $383,000 after acquiring an additional 1,594 shares during the last quarter. ProShare Advisors LLC raised its stake in Scholar Rock by 11.7% in the 1st quarter. ProShare Advisors LLC now owns 15,412 shares of the company’s stock valued at $274,000 after acquiring an additional 1,620 shares during the period. Finally, ClariVest Asset Management LLC lifted its holdings in Scholar Rock by 3.0% during the 2nd quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company’s stock valued at $497,000 after purchasing an additional 1,718 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

About Scholar Rock

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery, development, and delivery of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, an inhibitor of the activation of myostatin that is in Phase 3 clinical trial for the treatment of spinal muscular atrophy; and SRK-181, which has completed Phase 1 clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies.