Scholar Rock’s (SRRK) Outperform Rating Reiterated at Wedbush

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research note issued to investors on Monday, RTT News reports. They presently have a $37.00 price objective on the stock. Wedbush’s price target suggests a potential upside of 33.72% from the company’s current price.

A number of other research firms have also issued reports on SRRK. JPMorgan Chase & Co. upped their price objective on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. HC Wainwright upped their price objective on Scholar Rock from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Piper Sandler upped their price objective on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets upped their price objective on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Scholar Rock has an average rating of “Buy” and an average price target of $33.29.

Scholar Rock Stock Down 2.6 %

SRRK traded down $0.75 on Monday, hitting $27.67. The company had a trading volume of 1,002,166 shares, compared to its average volume of 1,142,975. The stock has a fifty day moving average price of $16.80 and a 200-day moving average price of $12.63. Scholar Rock has a 12-month low of $6.76 and a 12-month high of $35.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.04 and a current ratio of 6.04. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -12.46 and a beta of 0.46.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.01. During the same period in the previous year, the business posted ($0.47) earnings per share. Analysts predict that Scholar Rock will post -2.37 EPS for the current fiscal year.

Insider Activity at Scholar Rock

In other Scholar Rock news, Director Srinivas Akkaraju sold 1,175,713 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the transaction, the director now owns 5,612,896 shares of the company’s stock, valued at $164,177,208. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Srinivas Akkaraju sold 1,175,713 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $29.25, for a total value of $34,389,605.25. Following the sale, the director now owns 5,612,896 shares of the company’s stock, valued at approximately $164,177,208. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Edward H. Myles sold 206,240 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $26.56, for a total value of $5,477,734.40. Following the completion of the sale, the chief financial officer now owns 161,088 shares in the company, valued at approximately $4,278,497.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,415,340 shares of company stock valued at $40,666,088. Insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

Hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after buying an additional 514 shares during the period. Walleye Trading LLC acquired a new stake in shares of Scholar Rock in the first quarter worth $178,000. Principal Financial Group Inc. acquired a new stake in shares of Scholar Rock in the second quarter worth $98,000. Hsbc Holdings PLC acquired a new stake in shares of Scholar Rock in the second quarter worth $100,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Scholar Rock in the second quarter worth $103,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

About Scholar Rock

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.