Scholar Rock Holding Co. (NASDAQ:SRRK) Expected to Post Quarterly Sales of $7.65 Million

Thursday, April 8, 2021 | MarketBeat

Equities analysts predict that Scholar Rock Holding Co. (NASDAQ:SRRK) will report $7.65 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Scholar Rock's earnings. The highest sales estimate is $8.00 million and the lowest is $7.30 million. Scholar Rock reported sales of $5.03 million during the same quarter last year, which would suggest a positive year over year growth rate of 52.1%. The business is scheduled to report its next quarterly earnings report on Thursday, May 6th.

On average, analysts expect that Scholar Rock will report full year sales of $35.90 million for the current fiscal year, with estimates ranging from $29.20 million to $46.49 million. For the next fiscal year, analysts anticipate that the firm will post sales of $17.01 million, with estimates ranging from $4.82 million to $29.20 million. Zacks Investment Research's sales calculations are an average based on a survey of analysts that follow Scholar Rock.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Monday, March 8th. The company reported ($0.79) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.63) by ($0.16). The firm had revenue of $15.40 million for the quarter, compared to analyst estimates of $6.22 million. Scholar Rock had a negative return on equity of 80.16% and a negative net margin of 365.84%. Scholar Rock's quarterly revenue was down 24.9% compared to the same quarter last year.

A number of research analysts recently commented on the company. Wedbush boosted their price target on Scholar Rock from $47.00 to $66.00 and gave the company an "outperform" rating in a research note on Thursday, January 21st. Credit Suisse Group assumed coverage on Scholar Rock in a research note on Monday, January 11th. They issued an "outperform" rating and a $65.00 price target for the company. BMO Capital Markets boosted their price target on Scholar Rock from $54.00 to $79.00 and gave the company an "outperform" rating in a research note on Monday, January 25th. They noted that the move was a valuation call. JPMorgan Chase & Co. assumed coverage on Scholar Rock in a research note on Wednesday, January 6th. They issued an "overweight" rating and a $59.00 price target for the company. Finally, Zacks Investment Research downgraded Scholar Rock from a "hold" rating to a "sell" rating in a research note on Wednesday, February 10th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The company has an average rating of "Buy" and an average target price of $61.60.

In other news, Director Michael Gilman sold 3,501 shares of the business's stock in a transaction dated Tuesday, January 26th. The stock was sold at an average price of $59.26, for a total transaction of $207,469.26. Following the sale, the director now directly owns 46,147 shares in the company, valued at $2,734,671.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gregory John Carven sold 36,774 shares of the business's stock in a transaction dated Tuesday, January 26th. The stock was sold at an average price of $59.41, for a total value of $2,184,743.34. Following the sale, the insider now owns 50,870 shares in the company, valued at $3,022,186.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,079 shares of company stock valued at $2,509,581. Insiders own 24.60% of the company's stock.

Several large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in shares of Scholar Rock by 139.1% during the first quarter. Pacer Advisors Inc. now owns 1,138 shares of the company's stock worth $58,000 after purchasing an additional 662 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of Scholar Rock during the fourth quarter worth about $307,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Scholar Rock during the fourth quarter worth about $804,000. Eaton Vance Management bought a new stake in shares of Scholar Rock during the fourth quarter worth about $1,221,000. Finally, Norges Bank bought a new stake in Scholar Rock in the fourth quarter valued at approximately $30,574,000. Institutional investors own 61.87% of the company's stock.

SRRK stock opened at $33.31 on Thursday. The company has a market cap of $1.14 billion, a PE ratio of -13.82 and a beta of 0.35. The business has a 50-day simple moving average of $54.21 and a 200 day simple moving average of $44.20. Scholar Rock has a 52 week low of $10.28 and a 52 week high of $70.00.

Scholar Rock Company Profile

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery and development of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, a novel inhibitor of the activation of latent myostatin that has completed the Phase II clinical trials for the treatment of spinal muscular atrophy; and SRK-181, which is in Phase I clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1.

See Also: Cost of Equity For A Business, Investors

Get a free copy of the Zacks research report on Scholar Rock (SRRK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Scholar Rock (NASDAQ:SRRK)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: Municipal Bonds



7 Bellwether Stocks Signaling a Return to Normal

Bellwether stocks are considered to be leading indicators about the direction of the overall economy, a specific sector, or the broader market. They are predictive stocks in that investors can use the company’s earnings reports to gauge economic strength or weakness.

The traditional definition of bellwether stocks brings to mind established, blue-chip companies. They are the home of mature brands with consumer loyalty. These may be stocks that aren’t associated with exceptional growth; some may be dividend stocks.

But there’s something different about normal this time around. If it’s true (and I think it is) that the old rules no longer apply, investors need to change the way they think about bellwether stocks. Plus, let’s face it, many stocks that we might consider to be bellwether stocks have already had a bit of a vaccine rally. That means that the easy gains are gone.

With that in mind, we’ve put together this special presentation that highlights seven of what may be termed the new bellwether stocks. These are stocks that investors should be paying attention to as the economy continues to reopen.

One quality of many of these stocks is that they are either negative for 2021 or underperforming the broader market. And that means that they are likely to have a strong upside as the economy grows.

View the "7 Bellwether Stocks Signaling a Return to Normal".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security. Learn more.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.