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
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