What is Wedbush’s Estimate 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 anticipates that the company will earn ($2.28) per share 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 brokerages have also recently issued reports on SRRK. Piper Sandler upped their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. BMO Capital Markets raised their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Finally, HC Wainwright upped their price objective on Scholar Rock from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $34.00.

Scholar Rock Price Performance

Scholar Rock stock opened at $27.50 on Friday. Scholar Rock has a 12 month low of $6.76 and a 12 month high of $35.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.88 and a quick ratio of 6.04. The business’s fifty day simple moving average is $20.24 and its two-hundred day simple moving average is $13.53.

Institutional Investors Weigh In On Scholar Rock

A number of hedge funds have recently modified their holdings of SRRK. Mirae Asset Global Investments Co. Ltd. lifted its position 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 in the last quarter. American International Group Inc. lifted its position in shares of Scholar Rock by 3.0% during 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. Rice Hall James & Associates LLC increased its holdings in Scholar Rock by 3.6% in the 2nd quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company’s stock worth $383,000 after acquiring an additional 1,594 shares in the last quarter. ProShare Advisors LLC raised its stake in Scholar Rock by 11.7% during the 1st quarter. ProShare Advisors LLC now owns 15,412 shares of the company’s stock worth $274,000 after acquiring an additional 1,620 shares during the period. Finally, ClariVest Asset Management LLC lifted its holdings 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 purchasing an additional 1,718 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

Insider Buying and Selling

In related news, CFO Edward H. Myles sold 206,240 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. This trade represents a 56.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tracey Sacco sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $25.62, for a total transaction of $768,600.00. Following the sale, the insider now directly owns 49,285 shares of the company’s stock, 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. Over the last quarter, insiders have sold 1,413,889 shares of company stock worth $40,652,551. 19.20% of the stock is owned by insiders.

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.