Scholar Rock’s (SRRK) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Scholar Rock (NASDAQ:SRRK) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $30.00 price target on the stock.

Several other brokerages have also recently commented on SRRK. Wedbush reiterated an outperform rating and set a $23.00 price target on shares of Scholar Rock in a research report on Tuesday, May 7th. BMO Capital Markets boosted their price objective on shares of Scholar Rock from $29.00 to $31.00 and gave the company an outperform rating in a report on Thursday, June 13th. Truist Financial restated a buy rating and set a $20.00 price objective on shares of Scholar Rock in a report on Wednesday, April 3rd. Piper Sandler restated an overweight rating and set a $28.00 price objective on shares of Scholar Rock in a report on Tuesday, March 26th. Finally, Raymond James initiated coverage on shares of Scholar Rock in a report on Thursday, March 28th. They set a strong-buy rating and a $30.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Scholar Rock currently has an average rating of Buy and an average target price of $26.00.

Scholar Rock Stock Down 0.4 %

Shares of NASDAQ:SRRK opened at $8.33 on Tuesday. Scholar Rock has a one year low of $5.93 and a one year high of $21.17. The company has a 50 day moving average of $11.46 and a 200-day moving average of $14.46. The company has a debt-to-equity ratio of 0.24, a current ratio of 6.58 and a quick ratio of 6.58. The stock has a market cap of $664.32 million, a price-to-earnings ratio of -3.99 and a beta of 0.80.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same period in the prior year, the business posted ($0.46) EPS. On average, sell-side analysts forecast that Scholar Rock will post -2.4 earnings per share for the current year.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, General Counsel Junlin Ho sold 4,695 shares of Scholar Rock stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $8.98, for a total value of $42,161.10. Following the transaction, the general counsel now owns 204,076 shares of the company’s stock, valued at $1,832,602.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Edward H. Myles sold 9,458 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $8.98, for a total value of $84,932.84. Following the sale, the chief financial officer now owns 201,518 shares of the company’s stock, valued at $1,809,631.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Junlin Ho sold 4,695 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $8.98, for a total transaction of $42,161.10. Following the completion of the sale, the general counsel now directly owns 204,076 shares in the company, valued at approximately $1,832,602.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,468 shares of company stock valued at $147,883. 26.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Scholar Rock

Institutional investors have recently made changes to their positions in the business. Barclays PLC raised its position in Scholar Rock by 62.3% during the third quarter. Barclays PLC now owns 32,318 shares of the company’s stock worth $230,000 after acquiring an additional 12,409 shares in the last quarter. Swiss National Bank raised its position in Scholar Rock by 5.4% during the third quarter. Swiss National Bank now owns 83,600 shares of the company’s stock worth $594,000 after acquiring an additional 4,300 shares in the last quarter. FMR LLC raised its position in Scholar Rock by 3.8% during the third quarter. FMR LLC now owns 8,005,654 shares of the company’s stock worth $56,840,000 after acquiring an additional 291,156 shares in the last quarter. Algert Global LLC raised its position in Scholar Rock by 45.5% during the third quarter. Algert Global LLC now owns 26,920 shares of the company’s stock worth $191,000 after acquiring an additional 8,420 shares in the last quarter. Finally, Corton Capital Inc. bought a new stake in Scholar Rock during the third quarter worth $199,000. Institutional investors own 91.08% of the company’s stock.

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.