Scholar Rock Holding Corp (NASDAQ:SRRK) Expected to Post Quarterly Sales of $12.73 Million

Brokerages forecast that Scholar Rock Holding Corp (NASDAQ:SRRK) will post sales of $12.73 million for the current quarter, Zacks reports. Two analysts have provided estimates for Scholar Rock’s earnings. The highest sales estimate is $19.55 million and the lowest is $5.90 million. The firm is scheduled to issue its next earnings report on Wednesday, November 13th.

On average, analysts expect that Scholar Rock will report full-year sales of $26.33 million for the current financial year, with estimates ranging from $19.90 million to $32.75 million. For the next fiscal year, analysts anticipate that the company will post sales of $26.11 million, with estimates ranging from $19.50 million to $32.71 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Scholar Rock.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.48) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.07). The firm had revenue of $5.04 million for the quarter, compared to the consensus estimate of $5.38 million.

SRRK has been the topic of a number of research reports. Wedbush reissued an “outperform” rating and issued a $27.00 price objective on shares of Scholar Rock in a research report on Wednesday, May 15th. Zacks Investment Research upgraded shares of Scholar Rock from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Saturday. Finally, ValuEngine upgraded shares of Scholar Rock from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in Scholar Rock by 1,982.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,437 shares of the company’s stock valued at $38,000 after purchasing an additional 2,320 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new stake in Scholar Rock during the 1st quarter valued at $59,000. Metropolitan Life Insurance Co NY acquired a new stake in Scholar Rock during the 1st quarter valued at $108,000. MetLife Investment Advisors LLC bought a new position in Scholar Rock during the first quarter worth $150,000. Finally, SG Americas Securities LLC bought a new position in Scholar Rock during the second quarter worth $157,000. 58.52% of the stock is owned by institutional investors.

Shares of Scholar Rock stock traded down $0.04 during trading on Friday, reaching $10.46. The stock had a trading volume of 47,906 shares, compared to its average volume of 102,667. The company has a current ratio of 5.88, a quick ratio of 5.88 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $316.10 million, a price-to-earnings ratio of -3.32 and a beta of 0.08. The stock has a fifty day moving average price of $11.32 and a two-hundred day moving average price of $16.27. Scholar Rock has a 52 week low of $9.30 and a 52 week high of $30.00.

About Scholar Rock

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. Its lead antibody product candidate is SRK-015, an inhibitor of the activation of myostatin, which is in Phase I clinical trials for the treatment of spinal muscular atrophy.

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

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