Scholar Rock (NASDAQ:SRRK) Price Target Increased to $31.00 by Analysts at JPMorgan Chase & Co.

Scholar Rock (NASDAQ:SRRK) had its price target boosted by JPMorgan Chase & Co. from $18.00 to $31.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 12.73% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. HC Wainwright upped their price objective on shares of Scholar Rock from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. BMO Capital Markets boosted their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Wedbush increased their price target on Scholar Rock from $27.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $29.88.

Scholar Rock Price Performance

NASDAQ SRRK traded up $0.99 on Monday, hitting $27.50. 773,615 shares of the company’s stock were exchanged, compared to its average volume of 1,129,297. Scholar Rock has a 52 week low of $6.48 and a 52 week high of $35.38. The stock has a 50-day moving average of $10.71 and a 200-day moving average of $11.11. The company has a current ratio of 6.04, a quick ratio of 6.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -13.16 and a beta of 0.82.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same period last year, the business earned ($0.47) earnings per share. Analysts expect that Scholar Rock will post -2.38 earnings per share for the current year.

Insider Buying and Selling

In other Scholar Rock news, insider Tracey Sacco sold 30,000 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the sale, the insider now owns 49,285 shares in the company, valued at approximately $1,262,681.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Tracey Sacco sold 30,000 shares of Scholar Rock stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the transaction, the insider now directly owns 49,285 shares of the company’s stock, valued at $1,262,681.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward H. Myles sold 206,240 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $26.56, for a total value of $5,477,734.40. Following the completion of the sale, the chief financial officer now owns 161,088 shares in the company, valued at $4,278,497.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,415,340 shares of company stock valued at $40,666,088 in the last three months. Insiders own 26.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds have recently bought and sold shares of SRRK. Clearbridge Investments LLC acquired a new stake in Scholar Rock during the 2nd quarter worth about $6,223,000. Candriam S.C.A. acquired a new stake in Scholar Rock during the second quarter worth approximately $6,201,000. Millennium Management LLC grew its stake in Scholar Rock by 159.2% during the second quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock worth $7,710,000 after purchasing an additional 568,512 shares during the period. Marshall Wace LLP increased its holdings in Scholar Rock by 1,051.3% in the second quarter. Marshall Wace LLP now owns 487,285 shares of the company’s stock worth $4,059,000 after purchasing an additional 444,961 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Scholar Rock by 31.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,430,764 shares of the company’s stock valued at $26,898,000 after buying an additional 342,690 shares during the period. 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.