FY2024 Earnings Forecast for Scholar Rock Issued By Wedbush

Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) - Stock analysts at Wedbush dropped 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 estimate of ($2.24). Wedbush currently has a "Outperform" rating and a $37.00 target price 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.

Other research analysts also recently issued research reports about the stock. Piper Sandler raised 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. HC Wainwright lifted their target price on shares of Scholar Rock from $35.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. lifted 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. Finally, BMO Capital Markets lifted their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, October 11th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Scholar Rock presently has a consensus rating of "Buy" and a consensus target price of $34.00.

Scholar Rock Stock Down 3.7 %

Shares of Scholar Rock stock traded down $1.01 during midday trading on Friday, reaching $26.49. 1,296,916 shares of the company's stock traded hands, compared to its average volume of 1,135,153. 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 company's 50 day simple moving average is $20.61 and its 200 day simple moving average is $13.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 6.04 and a current ratio of 3.88. Scholar Rock has a 52 week low of $6.76 and a 52 week high of $35.38.

Insider Activity

In other Scholar Rock news, CFO Edward H. Myles sold 206,240 shares of the business's 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 transaction, the chief financial officer now directly owns 161,088 shares in the company, valued at $4,278,497.28. The trade was a 56.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the transaction, the insider now owns 49,285 shares in the company, valued at approximately $1,262,681.70. This trade represents a 37.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,413,889 shares of company stock worth $40,652,551. Corporate insiders own 19.20% of the company's stock.

Hedge Funds Weigh In On Scholar Rock

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Scholar Rock by 3.1% in 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 last quarter. Redmile Group LLC raised its stake in shares of Scholar Rock by 0.3% during the first quarter. Redmile Group LLC now owns 6,419,610 shares of the company's stock worth $114,012,000 after buying an additional 17,105 shares during the last quarter. Vanguard Group Inc. raised its stake 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 worth $52,739,000 after buying an additional 114,550 shares during the last quarter. Millennium Management LLC raised its stake 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 worth $7,710,000 after buying an additional 568,512 shares during the last quarter. Finally, Hood River Capital Management LLC raised its stake in shares of Scholar Rock by 5.1% during the second quarter. Hood River Capital Management LLC now owns 832,792 shares of the company's stock worth $6,937,000 after buying an additional 40,745 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.