Scholar Rock (NASDAQ:SRRK) Stock Price Expected to Rise, Truist Financial Analyst Says

Scholar Rock (NASDAQ:SRRK) had its target price boosted by equities researchers at Truist Financial from $36.00 to $45.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 13.46% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Piper Sandler upped their price target on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. boosted their target price on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Wedbush reissued an “outperform” rating and issued a $37.00 target price on shares of Scholar Rock in a research report on Monday, November 4th. BMO Capital Markets lifted their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Finally, HC Wainwright lifted their target price on Scholar Rock from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $37.57.

Scholar Rock Price Performance

Shares of SRRK traded up $9.74 during trading hours on Monday, hitting $39.66. 3,624,144 shares of the stock were exchanged, compared to its average volume of 1,138,283. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The stock’s 50-day moving average price is $22.52 and its two-hundred day moving average price is $14.04. The company has a market cap of $3.71 billion, a price-to-earnings ratio of -16.88 and a beta of 0.47. Scholar Rock has a 12-month low of $6.76 and a 12-month high of $43.38.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, Director Srinivas Akkaraju sold 1,175,713 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the completion of the sale, the director now directly owns 5,612,896 shares in the company, valued at $164,177,208. This represents a 17.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Edward H. Myles sold 206,240 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the sale, the chief financial officer now owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. This represents a 56.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,413,889 shares of company stock valued at $40,652,551. Insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

Large investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Scholar Rock by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after buying an additional 514 shares during the period. Quarry LP increased its holdings in shares of Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock valued at $36,000 after acquiring an additional 4,373 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Scholar Rock during the 2nd quarter valued at approximately $98,000. Hsbc Holdings PLC acquired a new position in Scholar Rock in the second quarter worth $100,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Scholar Rock during the second quarter worth $103,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

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.