What is Wedbush’s Forecast for Scholar Rock FY2024 Earnings?

Scholar Rock Holding Co. (NASDAQ:SRRK) – Equities research analysts at Wedbush dropped their FY2024 earnings per share estimates for shares of Scholar Rock in a research note issued on Tuesday, November 12th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings of ($2.28) per share for the year, down from their previous forecast of ($2.24). Wedbush has a “Outperform” rating and a $37.00 price objective on the stock. The consensus estimate for Scholar Rock’s current full-year earnings is ($2.37) per share. Wedbush also issued estimates for Scholar Rock’s Q4 2024 earnings at ($0.44) EPS, Q1 2025 earnings at ($0.45) EPS, Q2 2025 earnings at ($0.44) EPS, Q3 2025 earnings at ($0.42) EPS, Q4 2025 earnings at ($0.43) EPS, FY2025 earnings at ($1.74) EPS, FY2026 earnings at ($1.34) EPS and FY2027 earnings at ($0.21) EPS.

SRRK has been the subject of several other research reports. BMO Capital Markets boosted their target price 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. HC Wainwright boosted their price objective on Scholar Rock from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler increased their target price on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. boosted their price target on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Scholar Rock currently has a consensus rating of “Buy” and an average price target of $34.00.

Scholar Rock Stock Down 3.7 %

Shares of NASDAQ:SRRK 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 has a current ratio of 3.88, a quick ratio of 6.04 and a debt-to-equity ratio of 0.63. 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 fifty day simple moving average of $20.61 and a 200 day simple moving average of $13.61.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, Director Srinivas Akkaraju sold 1,175,713 shares of the business’s 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 owns 5,612,896 shares in the company, valued at approximately $164,177,208. The trade was a 17.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Edward H. Myles sold 206,240 shares of Scholar Rock stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the sale, the chief financial officer now owns 161,088 shares in the company, valued at approximately $4,278,497.28. This represents a 56.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,413,889 shares of company stock valued at $40,652,551 in the last ninety days. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

A number of institutional investors have recently added to or reduced their stakes in SRRK. Mirae Asset Global Investments Co. Ltd. lifted its stake in Scholar Rock by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after purchasing an additional 514 shares during the last quarter. American International Group Inc. raised its position in shares of Scholar Rock by 3.0% during the first quarter. American International Group Inc. now owns 28,407 shares of the company’s stock worth $505,000 after purchasing an additional 834 shares during the period. Rice Hall James & Associates LLC boosted its position in shares of Scholar Rock by 3.6% in the 2nd 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 period. ProShare Advisors LLC increased its stake in Scholar Rock by 11.7% in the 1st quarter. ProShare Advisors LLC now owns 15,412 shares of the company’s stock worth $274,000 after purchasing an additional 1,620 shares in the last quarter. Finally, ClariVest Asset Management LLC lifted its stake in Scholar Rock by 3.0% during the second quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company’s stock valued at $497,000 after buying an additional 1,718 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.