What is Wedbush’s Estimate for Scholar Rock FY2024 Earnings?

Scholar Rock Holding Co. (NASDAQ:SRRK) – Investment analysts at Wedbush cut their FY2024 EPS estimates for shares of Scholar Rock in a report issued 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 target 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.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. boosted their target price on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Truist Financial increased their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets lifted their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. HC Wainwright boosted their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Piper Sandler raised their price objective on 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. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $40.43.

Scholar Rock Stock Up 2.9 %

SRRK stock opened at $38.15 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 3.88. The stock has a market capitalization of $3.57 billion, a P/E ratio of -16.23 and a beta of 0.47. Scholar Rock has a fifty-two week low of $6.76 and a fifty-two week high of $43.38. The business has a 50-day moving average of $24.29 and a 200-day moving average of $14.54.

Insider Activity

In related news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the sale, the insider now owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. This represents a 3.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward H. Myles sold 206,240 shares of Scholar Rock stock in a transaction 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 transaction, 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 56.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,823,322 shares of company stock valued at $56,411,627 in the last quarter. Company insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

Several large investors have recently modified their holdings of the stock. Barclays PLC boosted its holdings in shares of Scholar Rock by 103.4% during the third quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after acquiring an additional 84,118 shares during the period. Geode Capital Management LLC grew its holdings in shares of Scholar Rock by 8.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock worth $12,361,000 after purchasing an additional 120,489 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Scholar Rock by 16.2% in the third quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock worth $1,600,000 after purchasing an additional 27,801 shares during the period. Sphera Funds Management LTD. acquired a new position in Scholar Rock in the third quarter valued at about $1,337,000. Finally, Quarry LP increased its holdings in Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after buying an additional 4,373 shares during the period. 91.08% of the stock is owned by institutional investors.

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.