Analysts Set Expectations for Scholar Rock FY2024 Earnings

Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) - Analysts at HC Wainwright decreased their FY2024 earnings estimates for Scholar Rock in a research note issued to investors on Tuesday, November 12th. HC Wainwright analyst A. Maldonado now forecasts that the company will earn ($2.54) per share for the year, down from their previous estimate of ($2.43). HC Wainwright has a "Buy" rating and a $40.00 price objective on the stock. The consensus estimate for Scholar Rock's current full-year earnings is ($2.37) per share. HC Wainwright also issued estimates for Scholar Rock's Q4 2024 earnings at ($0.67) EPS, Q1 2025 earnings at ($0.67) EPS, Q2 2025 earnings at ($0.68) EPS, FY2025 earnings at ($2.65) EPS, FY2026 earnings at ($1.68) EPS, FY2027 earnings at ($1.00) EPS and FY2028 earnings at ($0.10) EPS.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Wedbush reiterated an "outperform" rating and issued a $37.00 price target on shares of Scholar Rock in a report on Monday, November 4th. BMO Capital Markets upped their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the company an "outperform" rating in a report on Friday, October 11th. Finally, Piper Sandler upped their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the company an "overweight" rating in a report on Tuesday, October 15th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Scholar Rock currently has a consensus rating of "Buy" and an average target price of $34.00.

Scholar Rock Trading Down 3.7 %

NASDAQ:SRRK traded down $1.01 during trading hours on Friday, hitting $26.49. The stock had a trading volume of 1,296,916 shares, compared to its average volume of 1,135,153. Scholar Rock has a one year low of $6.76 and a one year high of $35.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 6.04 and a current ratio of 3.88. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -11.27 and a beta of 0.47. The business's 50 day moving average is $20.61 and its 200-day moving average is $13.61.

Insider Buying and Selling

In other news, CFO Edward H. Myles sold 206,240 shares of Scholar Rock stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $26.56, for a total value 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 $4,278,497.28. This trade represents a 56.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tracey Sacco sold 30,000 shares of Scholar Rock 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 completion of the transaction, the insider now directly owns 49,285 shares of the company's stock, valued at approximately $1,262,681.70. This trade represents a 37.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,413,889 shares of company stock worth $40,652,551. 19.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC boosted its holdings in shares of Scholar Rock by 95.5% during the 1st quarter. Jane Street Group LLC now owns 244,318 shares of the company's stock worth $4,339,000 after buying an additional 119,363 shares during the period. Clearbridge Investments LLC bought a new stake in shares of Scholar Rock during the 2nd quarter worth about $6,223,000. Kennedy Capital Management LLC acquired a new stake in Scholar Rock in the 1st quarter worth about $4,900,000. Vanguard Group Inc. raised its stake in Scholar Rock by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company's stock worth $52,739,000 after purchasing an additional 114,550 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Scholar Rock in the 3rd quarter worth about $1,093,000. Institutional investors own 91.08% of the company's stock.

Scholar Rock Company Profile

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.