What is Wedbush’s Forecast for Scholar Rock FY2028 Earnings?

Scholar Rock Holding Co. (NASDAQ:SRRK) – Investment analysts at Wedbush increased their FY2028 earnings estimates for shares of Scholar Rock in a research report issued on Tuesday, November 12th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings of $0.39 per share for the year, up from their prior forecast of $0.33. Wedbush has a “Outperform” rating and a $37.00 price objective on the stock. The consensus estimate for Scholar Rock’s current full-year earnings is ($2.37) per share.

Several other brokerages have also weighed in on SRRK. Piper Sandler increased their target price on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. raised their price target on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. BMO Capital Markets lifted their target price on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Finally, HC Wainwright lifted their target price on Scholar Rock from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $34.00.

Scholar Rock Stock Performance

Shares of SRRK stock opened at $27.50 on Thursday. The company’s 50-day simple moving average is $20.24 and its 200-day simple moving average is $13.53. Scholar Rock has a one year low of $6.76 and a one year high of $35.38. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -11.70 and a beta of 0.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.04 and a current ratio of 6.04.

Institutional Investors Weigh In On Scholar Rock

Hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Scholar Rock by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after acquiring an additional 514 shares in the last quarter. American International Group Inc. boosted its stake in 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 purchasing an additional 834 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in Scholar Rock by 3.6% during the 2nd quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company’s stock valued at $383,000 after purchasing an additional 1,594 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Scholar Rock by 11.7% in the 1st 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 last quarter. Finally, ClariVest Asset Management LLC boosted its stake in shares of Scholar Rock by 3.0% in the 2nd quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company’s stock worth $497,000 after buying an additional 1,718 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Insider Transactions at Scholar Rock

In other news, Director Srinivas Akkaraju sold 1,175,713 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the transaction, the director now owns 5,612,896 shares in the company, valued at approximately $164,177,208. This trade represents a 17.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Edward H. Myles sold 206,240 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was 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 in the company, valued at approximately $4,278,497.28. This trade represents a 56.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,413,889 shares of company stock worth $40,652,551 over the last 90 days. 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.