FY2024 Earnings Estimate for Scholar Rock Issued By Wedbush

Scholar Rock Holding Co. (NASDAQ:SRRK) – Equities researchers at Wedbush reduced their FY2024 EPS estimates for Scholar Rock in a research report issued on Tuesday, November 12th. Wedbush analyst D. Nierengarten now forecasts that the company will earn ($2.28) per share for the year, down from their previous forecast of ($2.24). Wedbush has a “Outperform” rating and a $37.00 price target on the stock. The consensus estimate for Scholar Rock’s current full-year earnings is ($2.37) per share. Wedbush also issued estimates for Scholar Rock’s Q4 2024 earnings at ($0.44) EPS, Q1 2025 earnings at ($0.45) EPS, Q2 2025 earnings at ($0.44) EPS, Q3 2025 earnings at ($0.42) EPS, Q4 2025 earnings at ($0.43) EPS, FY2025 earnings at ($1.74) EPS, FY2026 earnings at ($1.34) EPS and FY2027 earnings at ($0.21) EPS.

Several other brokerages have also recently commented on SRRK. JPMorgan Chase & Co. raised their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Piper Sandler increased their price objective on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. BMO Capital Markets lifted their target price on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Finally, HC Wainwright raised their price target on shares of Scholar Rock from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $34.00.

Scholar Rock Stock Down 3.7 %

Shares of Scholar Rock stock opened at $26.49 on Friday. The company has a quick ratio of 6.04, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock has a 12-month low of $6.76 and a 12-month high of $35.38. The firm has a market capitalization of $2.48 billion, a PE ratio of -11.27 and a beta of 0.47. The stock’s fifty day moving average is $20.61 and its 200-day moving average is $13.60.

Insider Buying and Selling at Scholar Rock

In other news, CFO Edward H. Myles sold 206,240 shares of Scholar Rock stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $26.56, for a total value of $5,477,734.40. Following the transaction, the chief financial officer now directly owns 161,088 shares in the company, valued at approximately $4,278,497.28. The trade was a 56.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the stock in a transaction that occurred on 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 sale, the director now owns 5,612,896 shares of the company’s stock, valued at approximately $164,177,208. The trade was a 17.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,413,889 shares of company stock worth $40,652,551 over the last three months. Corporate insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Scholar Rock by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after purchasing an additional 514 shares during the period. Quarry LP increased its stake in Scholar Rock by 3,443.3% during the third quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after acquiring an additional 4,373 shares during the period. Walleye Trading LLC acquired a new position in Scholar Rock in the 1st quarter valued at approximately $178,000. Principal Financial Group Inc. bought a new stake in shares of Scholar Rock in the 2nd quarter worth approximately $98,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Scholar Rock during the 2nd quarter worth approximately $100,000. 91.08% of the stock is owned by institutional investors.

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.