Q3 2024 Earnings Estimate for Scholar Rock Holding Co. (NASDAQ:SRRK) Issued By Wedbush

Scholar Rock Holding Co. (NASDAQ:SRRK) – Equities research analysts at Wedbush increased their Q3 2024 earnings estimates for Scholar Rock in a research report issued on Monday, October 7th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings of ($0.54) per share for the quarter, up from their prior forecast of ($0.65). Wedbush currently has a “Outperform” rating and a $37.00 target price on the stock. The consensus estimate for Scholar Rock’s current full-year earnings is ($2.39) per share. Wedbush also issued estimates for Scholar Rock’s Q4 2024 earnings at ($0.50) EPS, FY2024 earnings at ($2.24) EPS, FY2026 earnings at ($1.22) EPS, FY2027 earnings at ($0.12) EPS and FY2028 earnings at $0.33 EPS.

Other analysts also recently issued reports about the stock. BMO Capital Markets boosted their target price on shares of Scholar Rock from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. HC Wainwright boosted their target price on shares of Scholar Rock from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Scholar Rock from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Scholar Rock currently has a consensus rating of “Buy” and a consensus target price of $27.75.

Scholar Rock Stock Performance

SRRK stock opened at $26.14 on Wednesday. The company has a quick ratio of 6.04, a current ratio of 6.04 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -12.51 and a beta of 0.82. Scholar Rock has a 12 month low of $6.48 and a 12 month high of $35.38. The firm has a 50 day moving average of $10.35 and a two-hundred day moving average of $11.09.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.01. During the same quarter in the prior year, the company earned ($0.47) earnings per share.

Hedge Funds Weigh In On Scholar Rock

Several large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. acquired a new position in shares of Scholar Rock in the 2nd quarter valued at $98,000. Hsbc Holdings PLC acquired a new position in shares of Scholar Rock in the 2nd quarter valued at $100,000. Point72 DIFC Ltd acquired a new position in shares of Scholar Rock in the 2nd quarter valued at $103,000. Dark Forest Capital Management LP acquired a new position in shares of Scholar Rock in the 2nd quarter valued at $135,000. Finally, Algert Global LLC raised its stake in shares of Scholar Rock by 34.7% in the 2nd quarter. Algert Global LLC now owns 16,695 shares of the company’s stock valued at $139,000 after buying an additional 4,305 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Srinivas Akkaraju sold 1,175,713 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the completion of the sale, the director now directly owns 5,612,896 shares of the company’s stock, valued at approximately $164,177,208. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Srinivas Akkaraju sold 1,175,713 shares of the company’s stock in a transaction on Monday, October 7th. The shares were 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 directly owns 5,612,896 shares in the company, valued at $164,177,208. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward H. Myles sold 206,240 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,415,340 shares of company stock valued at $40,666,088. Company insiders own 26.20% of the company’s stock.

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.