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

Scholar Rock Holding Co. (NASDAQ:SRRK) – Analysts at Wedbush dropped their FY2024 earnings per share (EPS) estimates for shares of Scholar Rock in a research note issued to investors on Tuesday, November 12th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings per share of ($2.28) for the year, down from their previous forecast of ($2.24). Wedbush currently has a “Outperform” rating and a $37.00 price target 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.

A number of other equities analysts have also commented on SRRK. JPMorgan Chase & Co. boosted their price target on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets raised their price target on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Piper Sandler boosted their price objective on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, HC Wainwright raised their target price on Scholar Rock from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $34.00.

Scholar Rock Stock Down 3.7 %

Shares of NASDAQ:SRRK opened at $26.49 on Friday. The company’s fifty day moving average is $20.61 and its 200-day moving average is $13.60. The company has a debt-to-equity ratio of 0.63, a quick ratio of 6.04 and a current ratio of 3.88. Scholar Rock has a 52 week low of $6.76 and a 52 week high of $35.38. The company has a market capitalization of $2.48 billion, a PE ratio of -11.27 and a beta of 0.47.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently made changes to their positions in SRRK. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 worth $25,000 after acquiring an additional 514 shares in the last quarter. Quarry LP raised its position in shares of Scholar Rock by 3,443.3% during the third quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after purchasing an additional 4,373 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Scholar Rock in the 2nd quarter valued at approximately $98,000. Hsbc Holdings PLC acquired a new position in shares of Scholar Rock in the second quarter valued at approximately $100,000. Finally, Point72 DIFC Ltd bought a new position in Scholar Rock during the 2nd quarter worth about $103,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Insiders Place Their Bets

In other news, insider Tracey Sacco sold 30,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the transaction, the insider now directly owns 49,285 shares in the company, valued at $1,262,681.70. This trade represents a 37.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Edward H. Myles sold 206,240 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $26.56, for a total value of $5,477,734.40. Following the completion of the sale, the chief financial officer now owns 161,088 shares of the company’s stock, valued at $4,278,497.28. This represents a 56.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,413,889 shares of company stock valued at $40,652,551. 19.20% of the stock is currently owned by insiders.

Scholar Rock Company Profile

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.