FY2024 Earnings Forecast for Scholar Rock Issued By Wedbush

Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) - Wedbush dropped their FY2024 earnings per share estimates for Scholar Rock in a research report issued to clients and investors on Monday, November 25th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings of ($2.39) per share for the year, down from their previous estimate of ($2.28). Wedbush has a "Outperform" rating and a $47.00 price objective on the stock. The consensus estimate for Scholar Rock's current full-year earnings is ($2.40) per share. Wedbush also issued estimates for Scholar Rock's Q4 2024 earnings at ($0.53) EPS, Q1 2025 earnings at ($0.54) EPS, Q2 2025 earnings at ($0.53) EPS, Q3 2025 earnings at ($0.52) EPS, Q4 2025 earnings at ($0.53) EPS, FY2025 earnings at ($2.13) EPS, FY2026 earnings at ($1.65) EPS, FY2027 earnings at ($0.16) EPS and FY2028 earnings at $0.81 EPS.

Several other analysts also recently weighed in on SRRK. JPMorgan Chase & Co. boosted their price objective on Scholar Rock from $18.00 to $31.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. BMO Capital Markets boosted 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. Truist Financial boosted their target price on Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a research note on Monday. HC Wainwright boosted their target price on Scholar Rock from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Piper Sandler boosted their target price on Scholar Rock from $28.00 to $42.00 and gave the company an "overweight" rating in a research note on Tuesday, October 15th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Scholar Rock presently has a consensus rating of "Buy" and an average target price of $40.43.

Scholar Rock Price Performance

SRRK traded up $1.09 during trading on Thursday, reaching $38.15. The stock had a trading volume of 757,923 shares, compared to its average volume of 1,152,049. The business has a 50-day moving average of $24.29 and a 200-day moving average of $14.54. The stock has a market cap of $3.57 billion, a PE ratio of -16.23 and a beta of 0.47. Scholar Rock has a one year low of $6.76 and a one year high of $43.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88.

Insider Transactions at Scholar Rock

In other news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the transaction, the insider now directly owns 10,850,005 shares of the company's stock, valued at $417,616,692.45. This represents a 3.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Edward H. Myles sold 206,240 shares of the company's stock in a transaction on 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 approximately $4,278,497.28. The trade was a 56.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,823,322 shares of company stock valued at $56,411,627. Insiders own 19.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company's stock valued at $25,000 after acquiring an additional 514 shares during the period. American International Group Inc. raised its stake in shares of Scholar Rock by 3.0% in the first quarter. American International Group Inc. now owns 28,407 shares of the company's stock worth $505,000 after buying an additional 834 shares during the period. Rice Hall James & Associates LLC raised its stake in shares of Scholar Rock by 3.6% in the second quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company's stock worth $383,000 after buying an additional 1,594 shares during the period. ClariVest Asset Management LLC raised its stake in shares of Scholar Rock by 3.0% in the second quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company's stock worth $497,000 after buying an additional 1,718 shares during the period. Finally, Cinctive Capital Management LP raised its stake in shares of Scholar Rock by 7.2% in the third quarter. Cinctive Capital Management LP now owns 42,902 shares of the company's stock worth $344,000 after buying an additional 2,869 shares during the period. 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.