Wedbush Issues Positive Forecast for Scholar Rock (NASDAQ:SRRK) Stock Price

Scholar Rock (NASDAQ:SRRK) had its price objective hoisted by research analysts at Wedbush from $56.00 to $58.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price would suggest a potential upside of 17.98% from the company’s current price.

Other equities research analysts have also issued research reports about the company. UBS Group began coverage on Scholar Rock in a research report on Wednesday, January 7th. They issued a “buy” rating and a $60.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of Scholar Rock from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, March 16th. Truist Financial lifted their price objective on shares of Scholar Rock from $44.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Scholar Rock in a research report on Thursday, January 22nd. Finally, Barclays increased their target price on shares of Scholar Rock from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $54.93.

Scholar Rock Price Performance

SRRK stock opened at $49.16 on Wednesday. The stock has a 50-day moving average price of $45.11 and a two-hundred day moving average price of $40.62. Scholar Rock has a 1 year low of $22.71 and a 1 year high of $50.50. The stock has a market cap of $5.65 billion, a PE ratio of -14.33 and a beta of 0.70. The company has a current ratio of 6.95, a quick ratio of 6.95 and a debt-to-equity ratio of 0.41.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.10. During the same period in the prior year, the business earned ($0.64) earnings per share. Equities analysts forecast that Scholar Rock will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Vikas Sinha sold 16,755 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $42.70, for a total transaction of $715,438.50. Following the transaction, the chief financial officer directly owned 583,245 shares in the company, valued at $24,904,561.50. The trade was a 2.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Keith Woods sold 16,746 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $42.70, for a total transaction of $715,054.20. Following the completion of the sale, the chief operating officer owned 583,254 shares of the company’s stock, valued at $24,904,945.80. This trade represents a 2.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 207,464 shares of company stock worth $9,157,423. Corporate insiders own 13.30% of the company’s stock.

Institutional Trading of Scholar Rock

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in Scholar Rock by 161.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 713,988 shares of the company’s stock valued at $26,589,000 after acquiring an additional 440,401 shares during the period. Moody Aldrich Partners LLC boosted its position in Scholar Rock by 53.5% during the third quarter. Moody Aldrich Partners LLC now owns 101,742 shares of the company’s stock worth $3,789,000 after purchasing an additional 35,481 shares during the period. Norges Bank acquired a new position in shares of Scholar Rock in the second quarter valued at $41,628,000. Voya Investment Management LLC raised its position in shares of Scholar Rock by 18.1% in the third quarter. Voya Investment Management LLC now owns 443,155 shares of the company’s stock valued at $16,503,000 after purchasing an additional 67,839 shares during the period. Finally, HighVista Strategies LLC raised its position in shares of Scholar Rock by 90.8% in the third quarter. HighVista Strategies LLC now owns 59,573 shares of the company’s stock valued at $2,218,000 after purchasing an additional 28,343 shares during the period. 91.08% of the stock is 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).