Scholar Rock Holding Co. (NASDAQ:SRRK) to Post Q2 2024 Earnings of ($0.72) Per Share, Wedbush Forecasts

Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) - Analysts at Wedbush reduced their Q2 2024 EPS estimates for shares of Scholar Rock in a research report issued to clients and investors on Tuesday, May 7th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings of ($0.72) per share for the quarter, down from their previous forecast of ($0.61). Wedbush currently has a "Outperform" rating and a $23.00 price target on the stock. The consensus estimate for Scholar Rock's current full-year earnings is ($2.01) per share. Wedbush also issued estimates for Scholar Rock's Q3 2024 earnings at ($0.71) EPS, Q4 2024 earnings at ($0.60) EPS, FY2024 earnings at ($2.60) EPS, Q1 2025 earnings at ($0.61) EPS, Q2 2025 earnings at ($0.60) EPS, Q3 2025 earnings at ($0.59) EPS, Q4 2025 earnings at ($0.50) EPS, FY2025 earnings at ($2.30) EPS, FY2026 earnings at ($1.38) EPS, FY2027 earnings at $0.56 EPS and FY2028 earnings at $2.89 EPS.

SRRK has been the subject of several other research reports. Truist Financial reissued a "buy" rating and issued a $20.00 target price on shares of Scholar Rock in a research note on Wednesday, April 3rd. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price objective on shares of Scholar Rock in a research note on Wednesday. Piper Sandler reaffirmed an "overweight" rating and set a $28.00 price objective on shares of Scholar Rock in a research note on Tuesday, March 26th. Finally, Raymond James began coverage on shares of Scholar Rock in a research note on Thursday, March 28th. They set a "strong-buy" rating and a $30.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Scholar Rock presently has a consensus rating of "Buy" and an average price target of $25.17.

Scholar Rock Price Performance

SRRK stock traded down $1.20 during trading on Friday, hitting $13.35. The stock had a trading volume of 802,961 shares, compared to its average volume of 636,029. The company's 50 day moving average price is $15.08 and its two-hundred day moving average price is $14.99. Scholar Rock has a 1-year low of $5.56 and a 1-year high of $21.17. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -6.71 and a beta of 0.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.80 and a current ratio of 8.80.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its earnings results on Tuesday, May 7th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same quarter in the previous year, the business earned ($0.46) EPS.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Scholar Rock by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company's stock valued at $52,739,000 after acquiring an additional 114,550 shares in the last quarter. ProShare Advisors LLC increased its position in Scholar Rock by 11.7% in the first quarter. ProShare Advisors LLC now owns 15,412 shares of the company's stock worth $274,000 after buying an additional 1,620 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Scholar Rock in the first quarter worth $945,000. Jennison Associates LLC increased its position in Scholar Rock by 1.0% in the first quarter. Jennison Associates LLC now owns 138,458 shares of the company's stock worth $2,459,000 after buying an additional 1,409 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new stake in Scholar Rock in the first quarter worth $383,000. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 2,512 shares of the company's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $39,538.88. Following the completion of the transaction, the insider now owns 147,019 shares in the company, valued at approximately $2,314,079.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Scholar Rock news, insider Mo Qatanani sold 2,512 shares of the company's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $39,538.88. Following the completion of the transaction, the insider now owns 147,019 shares in the company, valued at approximately $2,314,079.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Junlin Ho sold 3,489 shares of the company's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $54,916.86. Following the completion of the transaction, the general counsel now owns 208,771 shares of the company's stock, valued at approximately $3,286,055.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,359 shares of company stock worth $351,931. 26.20% of the stock is currently owned by company 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.