Analysts Set Scholar Rock Holding Co. (NASDAQ:SRRK) PT at $28.25

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have earned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $31.63.

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday. Wedbush upped their price target on shares of Scholar Rock from $27.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 7th. BMO Capital Markets lifted their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. HC Wainwright increased their target price on shares of Scholar Rock from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Piper Sandler raised their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday.

Insiders Place Their Bets

In other news, insider Tracey Sacco sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $25.62, for a total transaction of $768,600.00. Following the sale, the insider now owns 49,285 shares in the company, valued at $1,262,681.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Srinivas Akkaraju sold 1,175,713 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 5,612,896 shares of the company’s stock, valued at approximately $164,177,208. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tracey Sacco sold 30,000 shares of Scholar Rock stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $25.62, for a total value of $768,600.00. Following the transaction, the insider now directly owns 49,285 shares in the company, valued at approximately $1,262,681.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,415,340 shares of company stock worth $40,666,088 over the last ninety days. 26.20% of the stock is currently owned by company insiders.

Institutional Trading of Scholar Rock

A number of hedge funds have recently made changes to their positions in the stock. Clearbridge Investments LLC acquired a new position in Scholar Rock in the 2nd quarter valued at approximately $6,223,000. Candriam S.C.A. purchased a new stake in shares of Scholar Rock during the second quarter worth $6,201,000. Millennium Management LLC boosted its position in Scholar Rock by 159.2% during the second quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock valued at $7,710,000 after purchasing an additional 568,512 shares during the last quarter. Marshall Wace LLP grew its stake in Scholar Rock by 1,051.3% in the second quarter. Marshall Wace LLP now owns 487,285 shares of the company’s stock valued at $4,059,000 after purchasing an additional 444,961 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Scholar Rock by 31.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,430,764 shares of the company’s stock worth $26,898,000 after purchasing an additional 342,690 shares during the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

Scholar Rock Stock Up 1.6 %

SRRK stock opened at $29.00 on Monday. The firm’s 50-day moving average is $11.93 and its two-hundred day moving average is $11.38. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -13.88 and a beta of 0.82. Scholar Rock has a 52 week low of $6.48 and a 52 week high of $35.38. The company has a current ratio of 6.04, a quick ratio of 6.04 and a debt-to-equity ratio of 0.36.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.01. During the same period last year, the company earned ($0.47) earnings per share. On average, analysts forecast that Scholar Rock will post -2.38 earnings per share for the current fiscal year.

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.