Scholar Rock Holding Co. (NASDAQ:SRRK) Receives $67.25 Average PT from Analysts

Scholar Rock Holding Co. (NASDAQ:SRRK) has earned an average rating of “Buy” from the six analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $65.00.

Separately, Piper Sandler initiated coverage on Scholar Rock in a research report on Thursday, November 18th. They issued an “overweight” rating and a $56.00 target price on the stock.

Shares of SRRK stock traded down $1.29 during trading hours on Thursday, reaching $27.23. 125,425 shares of the company’s stock were exchanged, compared to its average volume of 251,353. Scholar Rock has a 1 year low of $25.25 and a 1 year high of $70.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.33 and a current ratio of 4.00. The stock has a market cap of $955.99 million, a PE ratio of -7.99 and a beta of 0.12. The firm has a fifty day moving average price of $31.89.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Monday, November 8th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.17). The company had revenue of $5.46 million for the quarter, compared to analysts’ expectations of $4.65 million. Scholar Rock had a negative return on equity of 54.11% and a negative net margin of 672.72%. The firm’s revenue for the quarter was up 79.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.79) EPS. On average, equities analysts expect that Scholar Rock will post -3.45 earnings per share for the current fiscal year.

In other Scholar Rock news, CFO Edward H. Myles sold 23,574 shares of the stock in a transaction that occurred on Thursday, November 11th. The stock was sold at an average price of $35.20, for a total transaction of $829,804.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Edward H. Myles sold 4,879 shares of the stock in a transaction that occurred on Monday, November 15th. The shares were sold at an average price of $35.05, for a total value of $171,008.95. The disclosure for this sale can be found here. Insiders have sold a total of 34,953 shares of company stock valued at $1,203,199 over the last three months. 20.30% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its position in shares of Scholar Rock by 144.5% in the second quarter. Royal Bank of Canada now owns 1,897 shares of the company’s stock valued at $55,000 after buying an additional 1,121 shares during the last quarter. First Mercantile Trust Co. purchased a new position in Scholar Rock in the 3rd quarter worth approximately $59,000. Macquarie Group Ltd. grew its position in shares of Scholar Rock by 396.3% in the second quarter. Macquarie Group Ltd. now owns 3,077 shares of the company’s stock valued at $89,000 after purchasing an additional 2,457 shares in the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in shares of Scholar Rock in the first quarter valued at approximately $108,000. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Scholar Rock by 371.6% in the third quarter. BNP Paribas Arbitrage SA now owns 5,084 shares of the company’s stock valued at $168,000 after purchasing an additional 4,006 shares during the last quarter. Institutional investors own 81.96% of the company’s stock.

Scholar Rock Company Profile

Scholar Rock Holding Corp. is a biopharmaceutical company. It engages in the development and discovery of innovative medicines. The firm offers proprietary platform which designed to discover and develop monoclonal antibodies that have a high degree of specificity to achieve selective modulation of growth factor signaling.

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Analyst Recommendations for Scholar Rock (NASDAQ:SRRK)

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