Scholar Rock (NASDAQ:SRRK) Shares Up 6.7%

Scholar Rock Holding Co. (NASDAQ:SRRK) shot up 6.7% on Friday . The company traded as high as $9.08 and last traded at $9.08. 253,447 shares were traded during trading, a decline of 68% from the average session volume of 795,066 shares. The stock had previously closed at $8.51.

Analysts Set New Price Targets

SRRK has been the subject of a number of recent analyst reports. Wedbush reissued an “outperform” rating and issued a $23.00 price objective on shares of Scholar Rock in a research report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Scholar Rock in a research note on Tuesday, June 25th. Finally, BMO Capital Markets increased their target price on shares of Scholar Rock from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $26.43.

Scholar Rock Stock Up 4.6 %

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 company has a market capitalization of $712.27 million, a PE ratio of -4.34 and a beta of 0.82. The firm has a fifty day simple moving average of $8.93 and a 200-day simple moving average of $11.30.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same quarter last year, the firm posted ($0.47) EPS. Equities research analysts anticipate that Scholar Rock Holding Co. will post -2.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in shares of Scholar Rock by 16.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock valued at $156,444,000 after purchasing an additional 1,149,519 shares in the last quarter. Eventide Asset Management LLC acquired a new position in shares of Scholar Rock during the 4th quarter worth about $18,287,000. Clearbridge Investments LLC bought a new stake in shares of Scholar Rock in the 2nd quarter valued at $6,223,000. Candriam S.C.A. acquired a new stake in Scholar Rock during the 2nd quarter worth approximately $6,201,000. Finally, Millennium Management LLC increased its holdings in Scholar Rock by 159.2% during the 2nd quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock worth $7,710,000 after purchasing an additional 568,512 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

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.