Analysts Set Scholar Rock Holding Corporation (NASDAQ:SRRK) Target Price at $57.71

Scholar Rock Holding Corporation (NASDAQ:SRRK) has earned an average recommendation of “Buy” from the sixteen brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eleven have given a buy rating and four have given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $58.7692.

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Scholar Rock in a report on Thursday, June 18th. Citigroup raised their target price on Scholar Rock from $58.00 to $60.00 and gave the company a “buy” rating in a report on Friday, August 7th. Barclays boosted their price target on Scholar Rock from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. upped their price target on Scholar Rock from $56.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $76.00 price objective on shares of Scholar Rock in a report on Friday, August 7th.

Scholar Rock Price Performance

Shares of SRRK opened at $60.04 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 7.02 and a current ratio of 7.02. The firm has a market cap of $7.31 billion, a PE ratio of -17.40 and a beta of 0.69. Scholar Rock has a twelve month low of $27.07 and a twelve month high of $61.76. The firm’s 50 day moving average price is $52.62 and its 200 day moving average price is $48.75.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) EPS for the quarter, hitting the consensus estimate of ($0.84). During the same quarter last year, the business posted ($0.98) EPS. As a group, research analysts expect that Scholar Rock will post -3.23 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael Gilman sold 2,544 shares of Scholar Rock stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $53.87, for a total value of $137,045.28. Following the transaction, the director owned 59,511 shares of the company’s stock, valued at $3,205,857.57. This trade represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey S. Flier sold 3,053 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.88, for a total transaction of $164,495.64. Following the completion of the sale, the director owned 27,856 shares of the company’s stock, valued at $1,500,881.28. The trade was a 9.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 17,149 shares of company stock valued at $923,108. Insiders own 10.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jennison Associates LLC increased its position in Scholar Rock by 74.0% during the fourth quarter. Jennison Associates LLC now owns 2,795,188 shares of the company’s stock worth $123,128,000 after acquiring an additional 1,188,676 shares during the period. Nicholas Investment Partners LP bought a new stake in Scholar Rock in the 2nd quarter valued at $4,968,000. iA Global Asset Management Inc. acquired a new stake in Scholar Rock in the 4th quarter worth $5,430,000. Geode Capital Management LLC grew its position in Scholar Rock by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 2,034,024 shares of the company’s stock worth $89,616,000 after purchasing an additional 79,214 shares during the last quarter. Finally, BlackRock Inc. bought a new position in shares of Scholar Rock during the 2nd quarter worth about $522,175,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

About Scholar Rock

Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company’s research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock’s approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.

The company’s lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).