FY2024 Earnings Estimate for Scholar Rock Issued By Wedbush

Scholar Rock Holding Co. (NASDAQ:SRRK) – Research analysts at Wedbush cut their FY2024 EPS estimates for shares of Scholar Rock in a note issued to investors on Tuesday, November 12th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings per share of ($2.28) for the year, down from their prior forecast of ($2.24). Wedbush currently 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 ($2.37) 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.

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

Scholar Rock Price Performance

SRRK opened at $26.49 on Friday. The company has a current ratio of 3.88, a quick ratio of 6.04 and a debt-to-equity ratio of 0.63. Scholar Rock has a 1 year low of $6.76 and a 1 year high of $35.38. The stock has a fifty day moving average price of $20.61 and a 200 day moving average price of $13.61. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -11.27 and a beta of 0.47.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds have recently modified their holdings of the business. FMR LLC increased its position in Scholar Rock by 3.1% during the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock worth $81,670,000 after acquiring an additional 308,813 shares during the period. Redmile Group LLC increased its holdings in shares of Scholar Rock by 0.3% during the 1st quarter. Redmile Group LLC now owns 6,419,610 shares of the company’s stock worth $114,012,000 after purchasing an additional 17,105 shares during the period. Vanguard Group Inc. raised its position in shares of Scholar Rock by 4.0% during the first quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock valued at $52,739,000 after buying an additional 114,550 shares during the last quarter. Millennium Management LLC raised its position in shares of Scholar Rock by 159.2% during the second quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock valued at $7,710,000 after buying an additional 568,512 shares during the last quarter. Finally, Hood River Capital Management LLC lifted its stake in shares of Scholar Rock by 5.1% in the second quarter. Hood River Capital Management LLC now owns 832,792 shares of the company’s stock valued at $6,937,000 after buying an additional 40,745 shares during the period. 91.08% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Edward H. Myles sold 206,240 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the completion of the transaction, the chief financial officer now owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. The trade was a 56.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the firm’s 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 completion of the sale, the director now directly owns 5,612,896 shares in the company, valued at $164,177,208. This trade represents 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 valued at $40,652,551 over the last 90 days. 19.20% of the stock is currently owned by company insiders.

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.