Scholar Rock’s (SRRK) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a report issued on Monday morning, RTT News reports. They currently have a $37.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. HC Wainwright lifted their target price on shares of Scholar Rock from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. lifted their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Piper Sandler increased their target price on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, BMO Capital Markets lifted their price target on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $33.29.

Scholar Rock Price Performance

NASDAQ:SRRK opened at $29.63 on Monday. Scholar Rock has a 52-week low of $6.76 and a 52-week high of $35.38. The stock has a fifty day moving average of $17.97 and a 200 day moving average of $12.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.04 and a current ratio of 6.04. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -13.35 and a beta of 0.47.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.01. During the same period in the prior year, the company posted ($0.47) EPS. On average, research analysts expect that Scholar Rock will post -2.37 EPS for the current fiscal 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 shares were sold at an average price of $25.62, for a total transaction of $768,600.00. Following the completion of the sale, the insider now directly owns 49,285 shares in the company, valued at $1,262,681.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Srinivas Akkaraju sold 1,175,713 shares of Scholar Rock stock in a transaction on Monday, October 7th. The shares were sold at an average price of $29.25, for a total value of $34,389,605.25. Following the transaction, the director now directly owns 5,612,896 shares of the company’s stock, valued at $164,177,208. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tracey Sacco sold 30,000 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $25.62, for a total transaction of $768,600.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 1,415,340 shares of company stock worth $40,666,088 in the last 90 days. 19.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Scholar Rock

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC increased its holdings in Scholar Rock by 95.5% during the 1st quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock valued at $4,339,000 after purchasing an additional 119,363 shares during the period. Clearbridge Investments LLC purchased a new position in shares of Scholar Rock during the second quarter valued at approximately $6,223,000. Kennedy Capital Management LLC bought a new position in shares of Scholar Rock during the first quarter valued at approximately $4,900,000. Vanguard Group Inc. lifted its stake in Scholar Rock by 4.0% in the first quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock worth $52,739,000 after acquiring an additional 114,550 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Scholar Rock in the third quarter worth $1,093,000. 91.08% of the stock is owned by institutional investors.

Scholar Rock Company Profile

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.