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

Scholar Rock Holding Co. (NASDAQ:SRRK) – Research analysts at Wedbush dropped their FY2024 earnings estimates for shares of Scholar Rock in a research report issued on Monday, November 25th. Wedbush analyst D. Nierengarten now anticipates that the company will earn ($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.

SRRK has been the topic of several other research reports. BMO Capital Markets increased their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note 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 note on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Truist Financial increased their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday. Finally, HC Wainwright increased their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Scholar Rock presently has a consensus rating of “Buy” and a consensus target price of $40.43.

Scholar Rock Price Performance

Shares of NASDAQ:SRRK opened at $38.15 on Thursday. The firm’s 50 day moving average price is $23.69 and its 200-day moving average price is $14.37. Scholar Rock has a twelve month low of $6.76 and a twelve month high of $43.38. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $3.57 billion, a PE ratio of -16.23 and a beta of 0.47.

Institutional Investors Weigh In On Scholar Rock

A number of institutional investors have recently added to or reduced their stakes in SRRK. Vanguard Group Inc. grew its holdings in Scholar Rock by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock valued at $52,739,000 after buying an additional 114,550 shares in the last quarter. American International Group Inc. grew its holdings 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 valued at $505,000 after purchasing an additional 834 shares in the last quarter. Bayesian Capital Management LP purchased a new position in shares of Scholar Rock in the first quarter valued at $258,000. Jane Street Group LLC grew its holdings in shares of Scholar Rock by 95.5% in the first quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock valued at $4,339,000 after purchasing an additional 119,363 shares in the last quarter. Finally, Walleye Trading LLC purchased a new position in shares of Scholar Rock in the first quarter valued at $178,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the completion of the sale, the insider now directly owns 10,850,005 shares of the company’s stock, valued at $417,616,692.45. This trade represents a 3.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were 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 approximately $164,177,208. This trade represents a 17.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,823,322 shares of company stock valued at $56,411,627. 19.20% of the stock is owned by corporate 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.