FY2024 EPS Estimates for Scholar Rock Cut by HC Wainwright

Scholar Rock Holding Co. (NASDAQ:SRRK) – HC Wainwright decreased their FY2024 earnings per share (EPS) estimates for shares of Scholar Rock in a research report issued to clients and investors on Tuesday, November 12th. HC Wainwright analyst A. Maldonado now anticipates that the company will earn ($2.54) per share for the year, down from their prior forecast of ($2.43). HC Wainwright has a “Buy” rating and a $40.00 price objective 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.

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

Scholar Rock Stock Performance

Shares of SRRK stock opened at $26.49 on Friday. Scholar Rock has a 12 month low of $6.76 and a 12 month high of $35.38. The company’s fifty day simple moving average is $20.61 and its 200-day simple moving average is $13.61. The firm has a market cap of $2.48 billion, a PE ratio of -11.27 and a beta of 0.47. The company has a quick ratio of 6.04, a current ratio of 3.88 and a debt-to-equity ratio of 0.63.

Insiders Place Their Bets

In other news, Director Srinivas Akkaraju sold 1,175,713 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $29.25, for a total value of $34,389,605.25. Following the completion of the sale, the director now 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 legal filing with the SEC, which can be accessed through this link. Also, insider Tracey Sacco sold 30,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $25.62, for a total transaction of $768,600.00. Following the transaction, the insider now directly owns 49,285 shares in the company, valued at approximately $1,262,681.70. This represents a 37.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,413,889 shares of company stock valued at $40,652,551 over the last ninety days. 19.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC lifted its position in Scholar Rock by 11.7% during the first quarter. ProShare Advisors LLC now owns 15,412 shares of the company’s stock worth $274,000 after purchasing an additional 1,620 shares during the period. Vanguard Group Inc. raised its position in shares of Scholar Rock by 4.0% in 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. raised its position in shares of Scholar Rock by 3.0% in the 1st quarter. American International Group Inc. now owns 28,407 shares of the company’s stock valued at $505,000 after buying an additional 834 shares in the last quarter. Hood River Capital Management LLC boosted its position in shares of Scholar Rock by 58.7% during the 1st quarter. Hood River Capital Management LLC now owns 792,047 shares of the company’s stock worth $14,067,000 after acquiring an additional 292,903 shares in the last quarter. Finally, Redmile Group LLC boosted its position in shares of Scholar Rock by 0.3% during the 1st quarter. Redmile Group LLC now owns 6,419,610 shares of the company’s stock worth $114,012,000 after acquiring an additional 17,105 shares in the last quarter. 91.08% of the stock is owned by institutional investors.

About Scholar Rock

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.