HC Wainwright Reiterates Buy Rating for Scholar Rock (NASDAQ:SRRK)

Scholar Rock (NASDAQ:SRRK)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $30.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 110.67% from the stock’s current price.

A number of other equities analysts also recently commented on SRRK. Wedbush reiterated an “outperform” rating and set a $23.00 target price on shares of Scholar Rock in a research note on Tuesday. Piper Sandler reaffirmed an “overweight” rating and set a $28.00 price target on shares of Scholar Rock in a research note on Tuesday, March 26th. Truist Financial restated a “buy” rating and issued a $20.00 price target on shares of Scholar Rock in a research report on Wednesday, April 3rd. Finally, Raymond James assumed coverage on Scholar Rock in a research note on Thursday, March 28th. They set a “strong-buy” rating and a $30.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Scholar Rock currently has an average rating of “Buy” and an average price target of $25.17.

Scholar Rock Stock Performance

SRRK stock traded down $0.45 during midday trading on Wednesday, hitting $14.24. 33,104 shares of the stock traded hands, compared to its average volume of 760,356. The stock’s fifty day simple moving average is $15.20 and its 200-day simple moving average is $14.95. The firm has a market cap of $1.14 billion, a P/E ratio of -7.16 and a beta of 0.94. Scholar Rock has a 1-year low of $5.56 and a 1-year high of $21.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.80 and a quick ratio of 8.80.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). During the same quarter in the previous year, the business posted ($0.46) EPS. On average, analysts expect that Scholar Rock will post -2.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Edward H. Myles sold 4,744 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $74,670.56. Following the transaction, the chief financial officer now directly owns 210,976 shares in the company, valued at approximately $3,320,762.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, General Counsel Junlin Ho sold 3,489 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $54,916.86. Following the sale, the general counsel now directly owns 208,771 shares in the company, valued at approximately $3,286,055.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Edward H. Myles sold 4,744 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $74,670.56. Following the sale, the chief financial officer now owns 210,976 shares in the company, valued at $3,320,762.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,359 shares of company stock valued at $351,931. Insiders own 26.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Scholar Rock during the 1st quarter valued at about $945,000. Jennison Associates LLC increased its holdings in Scholar Rock by 1.0% during the 1st quarter. Jennison Associates LLC now owns 138,458 shares of the company’s stock worth $2,459,000 after purchasing an additional 1,409 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in Scholar Rock during the 1st quarter worth approximately $383,000. China Universal Asset Management Co. Ltd. increased its holdings in Scholar Rock by 66.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 13,868 shares of the company’s stock worth $246,000 after purchasing an additional 5,522 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Scholar Rock during the 4th quarter worth approximately $1,347,000. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

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.