Wedbush Weighs in on Scholar Rock Holding Co.’s FY2022 Earnings (NASDAQ:SRRK)

Scholar Rock Holding Co. (NASDAQ:SRRKGet Rating) – Stock analysts at Wedbush upped their FY2022 EPS estimates for shares of Scholar Rock in a report issued on Monday, November 14th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings per share of ($2.57) for the year, up from their prior estimate of ($2.61). The consensus estimate for Scholar Rock’s current full-year earnings is ($2.57) per share. Wedbush also issued estimates for Scholar Rock’s Q4 2022 earnings at ($0.77) EPS, Q1 2023 earnings at ($0.81) EPS, Q2 2023 earnings at ($0.88) EPS, Q3 2023 earnings at ($0.83) EPS, Q4 2023 earnings at ($0.80) EPS, Q4 2023 earnings at ($0.80) EPS, FY2023 earnings at ($3.32) EPS, FY2024 earnings at ($2.84) EPS, FY2025 earnings at ($1.70) EPS and FY2026 earnings at $1.80 EPS.

A number of other equities analysts have also commented on SRRK. BMO Capital Markets lowered their price target on shares of Scholar Rock from $43.00 to $32.00 and set an “outperform” rating on the stock in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Scholar Rock in a research report on Monday, September 19th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.43.

Scholar Rock Stock Performance

NASDAQ SRRK opened at $9.06 on Thursday. The firm has a 50-day moving average of $8.09 and a 200-day moving average of $7.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 9.69 and a current ratio of 10.60. The stock has a market cap of $319.84 million, a PE ratio of -3.25 and a beta of 0.79. Scholar Rock has a 52-week low of $4.32 and a 52-week high of $33.97.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRRK. Point72 Hong Kong Ltd increased its holdings in shares of Scholar Rock by 1,388.7% during the first quarter. Point72 Hong Kong Ltd now owns 3,171 shares of the company’s stock valued at $41,000 after acquiring an additional 2,958 shares in the last quarter. Amalgamated Bank bought a new stake in shares of Scholar Rock during the 1st quarter valued at about $57,000. Denali Advisors LLC bought a new stake in shares of Scholar Rock during the 2nd quarter valued at about $38,000. Alpha Paradigm Partners LLC bought a new stake in shares of Scholar Rock during the 3rd quarter valued at about $50,000. Finally, Lazard Asset Management LLC purchased a new position in Scholar Rock in the 2nd quarter worth approximately $56,000.

Insider Buying and Selling

In other Scholar Rock news, major shareholder Public Equities L.P. Invus purchased 130,265 shares of Scholar Rock stock in a transaction on Tuesday, October 25th. The shares were acquired at an average cost of $8.04 per share, for a total transaction of $1,047,330.60. Following the completion of the transaction, the insider now directly owns 8,980,270 shares of the company’s stock, valued at $72,201,370.80. The purchase was disclosed in a filing with the SEC, which is available at this link. 2.05% of the stock is owned by company insiders.

About Scholar Rock

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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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Earnings History and Estimates for Scholar Rock (NASDAQ:SRRK)

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