Scholar Rock Holding Corporation (NASDAQ:SRRK) Receives Average Recommendation of “Buy” from Analysts

Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) have earned a consensus recommendation of “Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have issued a buy rating and three have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $46.40.

Several analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Scholar Rock in a report on Saturday, September 27th. Jefferies Financial Group began coverage on Scholar Rock in a report on Thursday, August 21st. They set a “buy” rating and a $50.00 target price for the company. Piper Sandler reduced their target price on shares of Scholar Rock from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, September 24th. Cantor Fitzgerald initiated coverage on shares of Scholar Rock in a research report on Thursday, July 17th. They set an “overweight” rating on the stock. Finally, Raymond James Financial set a $53.00 price objective on shares of Scholar Rock and gave the company a “strong-buy” rating in a report on Wednesday, July 30th.

Scholar Rock Price Performance

Shares of SRRK opened at $37.47 on Monday. The firm has a market capitalization of $3.60 billion, a PE ratio of -12.88 and a beta of 0.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.33 and a quick ratio of 6.33. The company’s 50-day moving average is $33.80 and its 200-day moving average is $33.15. Scholar Rock has a fifty-two week low of $7.11 and a fifty-two week high of $46.98.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.32). During the same quarter last year, the business posted ($0.60) EPS. Equities analysts forecast that Scholar Rock will post -2.42 EPS for the current year.

Insider Buying and Selling

In related news, insider Mo Qatanani sold 3,353 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $30.67, for a total transaction of $102,836.51. Following the sale, the insider owned 108,964 shares of the company’s stock, valued at $3,341,925.88. This represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Katie Peng sold 1,006 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $32.53, for a total value of $32,725.18. Following the sale, the director directly owned 33,914 shares in the company, valued at approximately $1,103,222.42. This trade represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,739 shares of company stock valued at $1,516,584 over the last 90 days. 13.30% of the stock is owned by corporate insiders.

Institutional Trading of Scholar Rock

Several large investors have recently made changes to their positions in SRRK. Vestal Point Capital LP bought a new position in Scholar Rock in the first quarter valued at approximately $41,795,000. Norges Bank acquired a new stake in shares of Scholar Rock in the 2nd quarter valued at $41,628,000. RA Capital Management L.P. increased its stake in shares of Scholar Rock by 6,351.3% in the 1st quarter. RA Capital Management L.P. now owns 1,136,453 shares of the company’s stock valued at $36,537,000 after purchasing an additional 1,118,837 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Scholar Rock during the 2nd quarter worth $33,062,000. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. lifted its position in shares of Scholar Rock by 145.3% during the 2nd quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 769,442 shares of the company’s stock worth $27,254,000 after buying an additional 455,753 shares during the last quarter. 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.