Jefferies Financial Group Brokers Raise Earnings Estimates for Scholar Rock Holding Co. (NASDAQ:SRRK)

Scholar Rock Holding Co. (NASDAQ:SRRK – Get Rating) – Stock analysts at Jefferies Financial Group boosted their Q1 2023 earnings estimates for Scholar Rock in a research note issued on Tuesday, March 7th. Jefferies Financial Group analyst M. Yee now expects that the company will post earnings per share of ($0.56) for the quarter, up from their previous estimate of ($0.58). The consensus estimate for Scholar Rock’s current full-year earnings is ($2.37) per share. Jefferies Financial Group also issued estimates for Scholar Rock’s Q2 2023 earnings at ($0.57) EPS, Q3 2023 earnings at ($0.58) EPS, Q4 2023 earnings at ($0.59) EPS and FY2023 earnings at ($2.30) EPS.

Scholar Rock (NASDAQ:SRRK – Get Rating) last released its quarterly earnings results on Tuesday, March 7th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.11. During the same quarter in the prior year, the firm posted ($0.97) earnings per share.

Several other analysts have also recently weighed in on SRRK. BMO Capital Markets cut their price target on shares of Scholar Rock from $43.00 to $32.00 and set an “outperform” rating on the stock in a report on Tuesday, November 15th. JPMorgan Chase & Co. lowered their price objective on Scholar Rock from $38.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, November 18th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Scholar Rock in a research report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $25.67.

Scholar Rock Trading Down 1.2 %

NASDAQ:SRRK opened at $9.86 on Friday. The firm’s fifty day simple moving average is $10.55 and its 200 day simple moving average is $9.00. Scholar Rock has a twelve month low of $4.32 and a twelve month high of $15.78. The company has a current ratio of 9.01, a quick ratio of 10.60 and a debt-to-equity ratio of 0.19.

Insider Transactions at Scholar Rock

In related news, major shareholder Public Equities L.P. Invus purchased 48,774 shares of the stock in a transaction dated Thursday, January 5th. The stock was purchased at an average price of $9.33 per share, with a total value of $455,061.42. Following the transaction, the insider now directly owns 9,029,044 shares in the company, valued at $84,240,980.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.05% of the stock is owned by insiders.

Hedge Funds Weigh In On Scholar Rock

Large investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd raised its position in shares of Scholar Rock by 1,388.7% in the 1st quarter. Point72 Hong Kong Ltd now owns 3,171 shares of the company’s stock worth $41,000 after purchasing an additional 2,958 shares during the last quarter. Alpha Paradigm Partners LLC bought a new stake in Scholar Rock in the 3rd quarter worth about $50,000. Denali Advisors LLC increased its holdings in Scholar Rock by 28.6% in the 3rd quarter. Denali Advisors LLC now owns 9,000 shares of the company’s stock worth $62,000 after buying an additional 2,000 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Scholar Rock in the 2nd quarter worth about $56,000. Finally, American Century Companies Inc. bought a new stake in Scholar Rock in the 4th quarter worth about $94,000. Hedge funds and other institutional investors own 91.63% of the company’s stock.

Scholar Rock Company Profile

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Scholar Rock Holding Corp. is a biopharmaceutical company. It engages in the development and discovery of innovative medicines. The firm offers proprietary platform which designed to discover and develop monoclonal antibodies that have a high degree of specificity to achieve selective modulation of growth factor signaling.