Scholar Rock (NASDAQ:SRRK) PT Raised to $35.00

Scholar Rock (NASDAQ:SRRK) had its price objective increased by investment analysts at HC Wainwright from $30.00 to $35.00 in a research note issued on Monday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 18.52% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. BMO Capital Markets increased their target price on Scholar Rock from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Wedbush reiterated an “outperform” rating and issued a $23.00 price target on shares of Scholar Rock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut their price target on Scholar Rock from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $26.00.

Scholar Rock Price Performance

SRRK traded up $22.11 during trading on Monday, hitting $29.53. The company’s stock had a trading volume of 8,489,354 shares, compared to its average volume of 863,643. The company has a current ratio of 6.04, a quick ratio of 6.04 and a debt-to-equity ratio of 0.36. The business’s fifty day simple moving average is $8.73 and its 200 day simple moving average is $10.66. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -14.13 and a beta of 0.82. Scholar Rock has a twelve month low of $6.48 and a twelve month high of $29.73.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.01. During the same period last year, the firm earned ($0.47) EPS. On average, equities research analysts forecast that Scholar Rock will post -2.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Scholar Rock by 16.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock valued at $156,444,000 after buying an additional 1,149,519 shares during the last quarter. Clearbridge Investments LLC bought a new stake in Scholar Rock in the 2nd quarter valued at about $6,223,000. Candriam S.C.A. bought a new stake in shares of Scholar Rock during the 2nd quarter worth approximately $6,201,000. Millennium Management LLC lifted its holdings in shares of 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 acquiring an additional 568,512 shares during the period. Finally, Marshall Wace LLP increased its position in Scholar Rock by 1,051.3% during the 2nd quarter. Marshall Wace LLP now owns 487,285 shares of the company’s stock worth $4,059,000 after purchasing an additional 444,961 shares in the last quarter. 91.08% of the stock is owned by 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.