Scholar Rock Holding Co. (NASDAQ:SRRK) Expected to Post Quarterly Sales of $5.34 Million

Equities analysts predict that Scholar Rock Holding Co. (NASDAQ:SRRK) will announce $5.34 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Scholar Rock’s earnings. The lowest sales estimate is $4.00 million and the highest is $7.30 million. Scholar Rock posted sales of $3.90 million during the same quarter last year, which would indicate a positive year over year growth rate of 36.9%. The firm is scheduled to report its next quarterly earnings report on Friday, August 6th.

According to Zacks, analysts expect that Scholar Rock will report full year sales of $20.04 million for the current year, with estimates ranging from $14.70 million to $26.60 million. For the next financial year, analysts anticipate that the company will post sales of $18.10 million, with estimates ranging from $7.00 million to $29.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that follow Scholar Rock.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Wednesday, May 12th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.06). The company had revenue of $4.70 million during the quarter, compared to the consensus estimate of $5.25 million. Scholar Rock had a negative return on equity of 60.07% and a negative net margin of 643.75%. Scholar Rock’s quarterly revenue was down 6.6% compared to the same quarter last year.

Separately, Zacks Investment Research raised shares of Scholar Rock from a “sell” rating to a “hold” rating in a research report on Wednesday, May 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $61.60.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC raised its stake in Scholar Rock by 200.8% in the 4th quarter. Penserra Capital Management LLC now owns 770 shares of the company’s stock valued at $37,000 after acquiring an additional 514 shares during the period. Lindbrook Capital LLC grew its holdings in shares of Scholar Rock by 1,327.1% during the first quarter. Lindbrook Capital LLC now owns 685 shares of the company’s stock worth $35,000 after purchasing an additional 637 shares in the last quarter. 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 in the last quarter. Arizona State Retirement System grew its holdings in shares of Scholar Rock by 13.0% during the first quarter. Arizona State Retirement System now owns 6,855 shares of the company’s stock worth $347,000 after purchasing an additional 791 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Scholar Rock by 2.9% during the first quarter. Alliancebernstein L.P. now owns 28,500 shares of the company’s stock worth $1,444,000 after purchasing an additional 800 shares in the last quarter. Institutional investors own 80.08% of the company’s stock.

NASDAQ SRRK traded up $0.60 during trading hours on Friday, reaching $29.36. The company’s stock had a trading volume of 9,050 shares, compared to its average volume of 287,454. The firm has a market capitalization of $1.01 billion, a PE ratio of -9.83 and a beta of 0.10. The company’s fifty day simple moving average is $29.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.55 and a current ratio of 4.55. 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 clinical-stage 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 antibody therapies.

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