Scholar Rock Holding Co. (NASDAQ:SRRK – Get Rating) – Stock analysts at Jefferies Financial Group lifted their Q2 2022 earnings estimates for Scholar Rock in a research report issued on Monday, May 16th. Jefferies Financial Group analyst M. Yee now forecasts that the company will post earnings per share of ($0.88) for the quarter, up from their previous forecast of ($1.12). Jefferies Financial Group also issued estimates for Scholar Rock’s Q3 2022 earnings at ($0.88) EPS, Q4 2022 earnings at ($0.72) EPS, FY2022 earnings at ($2.71) EPS, Q1 2023 earnings at ($0.80) EPS, Q2 2023 earnings at ($0.81) EPS, Q3 2023 earnings at ($0.83) EPS, Q4 2023 earnings at ($0.85) EPS and FY2023 earnings at ($3.29) EPS.
A number of other brokerages have also commented on SRRK. Zacks Investment Research raised Scholar Rock from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a report on Wednesday, May 11th. Piper Sandler lowered their target price on Scholar Rock from $56.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday. BMO Capital Markets lowered their target price on Scholar Rock from $74.00 to $55.00 in a report on Tuesday. Wedbush lowered their target price on Scholar Rock from $50.00 to $33.00 and set a “na” rating on the stock in a report on Tuesday. Finally, HC Wainwright started coverage on Scholar Rock in a report on Wednesday, March 23rd. They set a “buy” rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Scholar Rock has an average rating of “Buy” and a consensus target price of $29.08.
Scholar Rock (NASDAQ:SRRK – Get Rating) last issued its quarterly earnings results on Monday, March 7th. The company reported ($0.97) EPS for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.08. The company had revenue of $4.05 million for the quarter, compared to analyst estimates of $4.33 million. Scholar Rock had a negative return on equity of 64.57% and a negative net margin of 700.46%. During the same period last year, the company earned ($2.81) earnings per share.
A number of institutional investors and hedge funds have recently modified their holdings of SRRK. Metropolitan Life Insurance Co NY purchased a new position in Scholar Rock in the 1st quarter worth about $108,000. Royal Bank of Canada increased its stake in Scholar Rock by 144.5% in the 2nd quarter. Royal Bank of Canada now owns 1,897 shares of the company’s stock worth $55,000 after purchasing an additional 1,121 shares in the last quarter. Bank of America Corp DE increased its stake in Scholar Rock by 3.5% in the 2nd quarter. Bank of America Corp DE now owns 15,133 shares of the company’s stock worth $438,000 after purchasing an additional 516 shares in the last quarter. Morgan Stanley increased its stake in Scholar Rock by 312.4% in the 2nd quarter. Morgan Stanley now owns 352,251 shares of the company’s stock worth $10,180,000 after purchasing an additional 266,841 shares in the last quarter. Finally, Swiss National Bank increased its stake in Scholar Rock by 2.5% in the 3rd quarter. Swiss National Bank now owns 49,400 shares of the company’s stock worth $1,631,000 after purchasing an additional 1,200 shares in the last quarter. 84.22% of the stock is currently owned by hedge funds and other institutional investors.
Scholar Rock Company Profile (Get Rating)
Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery and development 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 latent myostatin that has completed the Phase 3 clinical trials for the treatment of spinal muscular atrophy; and SRK-181, which is in 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.
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