FY2024 EPS Estimates for Scholar Rock Cut by HC Wainwright

Scholar Rock Holding Co. (NASDAQ:SRRK) – Analysts at HC Wainwright reduced their FY2024 earnings estimates for Scholar Rock in a research note issued to investors on Tuesday, November 12th. HC Wainwright analyst A. Maldonado now expects that the company will earn ($2.54) per share for the year, down from their prior estimate of ($2.43). HC Wainwright currently has a “Buy” rating and a $40.00 target price 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.

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

Scholar Rock Stock Performance

Shares of SRRK stock opened at $27.50 on Friday. The stock’s 50-day moving average price is $20.24 and its 200 day moving average price is $13.53. The company has a quick ratio of 6.04, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $2.57 billion, a PE ratio of -11.70 and a beta of 0.47. Scholar Rock has a 52-week low of $6.76 and a 52-week high of $35.38.

Insiders Place Their Bets

In related news, Director Srinivas Akkaraju sold 1,175,713 shares of Scholar Rock stock in a transaction 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 transaction, the director now directly owns 5,612,896 shares of the company’s stock, valued at approximately $164,177,208. The trade was a 17.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Tracey Sacco sold 30,000 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $25.62, for a total value of $768,600.00. Following the completion of the sale, the insider now directly owns 49,285 shares in the company, valued at $1,262,681.70. This trade represents a 37.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,413,889 shares of company stock worth $40,652,551. Corporate insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SRRK. Mirae Asset Global Investments Co. Ltd. grew its stake in Scholar Rock by 21.6% in the 3rd 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 last quarter. American International Group Inc. lifted 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. Rice Hall James & Associates LLC grew its position 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 valued at $383,000 after purchasing an additional 1,594 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Scholar Rock by 11.7% in the first quarter. ProShare Advisors LLC now owns 15,412 shares of the company’s stock valued at $274,000 after purchasing an additional 1,620 shares during the last quarter. Finally, ClariVest Asset Management LLC increased its stake in shares of Scholar Rock by 3.0% during the 2nd quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company’s stock worth $497,000 after purchasing an additional 1,718 shares in the last quarter. Institutional investors and hedge funds 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.