Scholar Rock FY2024 EPS Estimate Decreased by HC Wainwright

Scholar Rock Holding Co. (NASDAQ:SRRK) – HC Wainwright dropped their FY2024 earnings estimates for shares of Scholar Rock in a report released on Tuesday, November 12th. HC Wainwright analyst A. Maldonado now anticipates that the company will post earnings of ($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.

SRRK has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. BMO Capital Markets increased their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Piper Sandler increased their price objective on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, Wedbush reiterated an “outperform” rating and issued a $37.00 price target on shares of Scholar Rock in a report on Monday, November 4th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $34.00.

Scholar Rock Stock Up 0.4 %

SRRK opened at $27.50 on Friday. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -11.70 and a beta of 0.47. Scholar Rock has a 12 month low of $6.76 and a 12 month high of $35.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 6.04. The business has a 50-day moving average of $20.24 and a two-hundred day moving average of $13.53.

Insiders Place Their Bets

In other news, CFO Edward H. Myles sold 206,240 shares of the 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 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 56.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the director now directly owns 5,612,896 shares of the company’s stock, valued at $164,177,208. The trade was a 17.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,413,889 shares of company stock worth $40,652,551 in the last quarter. 19.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scholar Rock

Institutional investors have recently modified their holdings of the stock. FMR LLC increased its holdings in Scholar Rock by 3.1% in the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock valued at $81,670,000 after buying an additional 308,813 shares during the last quarter. Redmile Group LLC grew its position in shares of Scholar Rock by 0.3% in the 1st quarter. Redmile Group LLC now owns 6,419,610 shares of the company’s stock worth $114,012,000 after acquiring an additional 17,105 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Scholar Rock by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock valued at $52,739,000 after acquiring an additional 114,550 shares during the last quarter. Millennium Management LLC raised its position in shares of Scholar Rock by 159.2% during the 2nd quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock valued at $7,710,000 after acquiring an additional 568,512 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its stake in 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 purchasing an additional 40,745 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

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.