HC Wainwright Analysts Lower Earnings Estimates for Scholar Rock Holding Co. (NASDAQ:SRRK)

Scholar Rock Holding Co. (NASDAQ:SRRK - Free Report) - Stock analysts at HC Wainwright decreased their Q2 2024 earnings per share estimates for shares of Scholar Rock in a research note issued to investors on Wednesday, May 8th. HC Wainwright analyst A. Maldonado now expects that the company will post earnings per share of ($0.61) for the quarter, down from their prior forecast of ($0.51). HC Wainwright currently has a "Buy" rating and a $30.00 target price on the stock. The consensus estimate for Scholar Rock's current full-year earnings is ($2.17) per share. HC Wainwright also issued estimates for Scholar Rock's Q3 2024 earnings at ($0.62) EPS, Q4 2024 earnings at ($0.63) EPS, FY2024 earnings at ($2.45) EPS, FY2025 earnings at ($2.17) EPS, FY2026 earnings at ($1.89) EPS, FY2027 earnings at ($1.65) EPS and FY2028 earnings at ($1.24) EPS.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.59) EPS for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.11). During the same period in the prior year, the firm posted ($0.46) earnings per share.

Several other equities analysts have also commented on the company. Raymond James assumed coverage on Scholar Rock in a research report on Thursday, March 28th. They set a "strong-buy" rating and a $30.00 price target on the stock. Piper Sandler reissued an "overweight" rating and set a $28.00 price target on shares of Scholar Rock in a research report on Tuesday, March 26th. Wedbush reaffirmed an "outperform" rating and issued a $23.00 target price on shares of Scholar Rock in a research report on Tuesday, May 7th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $20.00 target price on shares of Scholar Rock in a research report on Wednesday, April 3rd. 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, the company currently has a consensus rating of "Buy" and an average price target of $25.17.

Scholar Rock Stock Up 2.2 %

Scholar Rock stock traded up $0.29 during midday trading on Monday, hitting $13.64. 720,009 shares of the company were exchanged, compared to its average volume of 765,320. The company's fifty day moving average price is $15.05 and its 200-day moving average price is $15.10. The company has a market cap of $1.09 billion, a PE ratio of -6.53 and a beta of 0.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 6.58 and a quick ratio of 6.58. Scholar Rock has a fifty-two week low of $5.56 and a fifty-two week high of $21.17.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank grew its stake in Scholar Rock by 52.8% during the 3rd quarter. Amalgamated Bank now owns 4,217 shares of the company's stock worth $30,000 after buying an additional 1,458 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Scholar Rock by 479.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company's stock worth $157,000 after purchasing an additional 6,905 shares in the last quarter. Spire Wealth Management bought a new position in shares of Scholar Rock in the fourth quarter worth $178,000. Silverarc Capital Management LLC bought a new position in shares of Scholar Rock in the third quarter worth $69,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Scholar Rock in the third quarter worth $88,000. 91.08% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Edward H. Myles sold 4,744 shares of the business'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 $74,670.56. Following the completion of the sale, the chief financial officer now directly owns 210,976 shares in the company, valued at approximately $3,320,762.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Edward H. Myles sold 4,744 shares of the business'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 $74,670.56. Following the completion of the sale, the chief financial officer now directly owns 210,976 shares in the company, valued at approximately $3,320,762.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jay T. Backstrom sold 11,614 shares of the business's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $182,804.36. Following the completion of the sale, the chief executive officer now owns 352,671 shares of the company's stock, valued at $5,551,041.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,359 shares of company stock worth $351,931. 26.20% of the stock is currently 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.