Scholar Rock Holding Co. to Post Q3 2024 Earnings of ($0.54) Per Share, Wedbush Forecasts (NASDAQ:SRRK)

Scholar Rock Holding Co. (NASDAQ:SRRK) – Wedbush raised their Q3 2024 earnings per share (EPS) estimates for shares of Scholar Rock in a research report issued to clients and investors on Monday, October 7th. Wedbush analyst D. Nierengarten now anticipates that the company will earn ($0.54) per share for the quarter, up from their prior forecast of ($0.65). Wedbush 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 ($2.39) per share. Wedbush also issued estimates for Scholar Rock’s Q4 2024 earnings at ($0.50) EPS, FY2024 earnings at ($2.24) EPS, FY2026 earnings at ($1.22) EPS, FY2027 earnings at ($0.12) EPS and FY2028 earnings at $0.33 EPS.

A number of other research analysts have also weighed in on the company. BMO Capital Markets boosted their target price on Scholar Rock from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. cut their target price on shares of Scholar Rock from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, HC Wainwright upped their price target on shares of Scholar Rock from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Scholar Rock has a consensus rating of “Buy” and an average price target of $27.75.

Scholar Rock Stock Performance

Shares of SRRK stock opened at $29.49 on Wednesday. The company has a fifty day moving average price of $9.64 and a two-hundred day moving average price of $10.87. Scholar Rock has a one year low of $6.48 and a one year high of $35.38. The stock has a market cap of $2.35 billion, a P/E ratio of -14.11 and a beta of 0.82. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.04 and a quick ratio of 6.04.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.01. During the same period in the prior year, the firm posted ($0.47) EPS.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in shares of Scholar Rock by 16.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock worth $156,444,000 after purchasing an additional 1,149,519 shares during the period. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Scholar Rock during the 4th quarter valued at approximately $534,000. Goldman Sachs Group Inc. increased its stake in shares of Scholar Rock by 31.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,430,764 shares of the company’s stock worth $26,898,000 after purchasing an additional 342,690 shares during the last quarter. Wellington Management Group LLP bought a new position in Scholar Rock during the fourth quarter valued at $1,347,000. Finally, China Universal Asset Management Co. Ltd. increased its position in Scholar Rock by 66.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 13,868 shares of the company’s stock worth $246,000 after buying an additional 5,522 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Insider Activity at Scholar Rock

In other news, CFO Edward H. Myles sold 206,240 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 161,088 shares in the company, valued at approximately $4,278,497.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Srinivas Akkaraju sold 1,175,713 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the completion of the sale, the director now owns 5,612,896 shares of the company’s stock, valued at $164,177,208. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Edward H. Myles sold 206,240 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,415,340 shares of company stock valued at $40,666,088. 26.20% of the stock is owned by insiders.

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.