HC Wainwright Boosts Scholar Rock (NASDAQ:SRRK) Price Target to $50.00

Scholar Rock (NASDAQ:SRRK) had its price target increased by equities research analysts at HC Wainwright from $40.00 to $50.00 in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 31.06% from the company’s current price.

Several other research analysts also recently issued reports on SRRK. Truist Financial upped their price objective on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets boosted 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. Wedbush raised their target price on shares of Scholar Rock from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday. Piper Sandler increased their price objective on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $40.43.

Scholar Rock Stock Up 2.9 %

Shares of NASDAQ:SRRK opened at $38.15 on Tuesday. Scholar Rock has a 12 month low of $6.76 and a 12 month high of $43.38. The firm has a market cap of $3.57 billion, a P/E ratio of -16.23 and a beta of 0.47. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $23.69 and its two-hundred day moving average price is $14.37.

Insider Buying and Selling at Scholar Rock

In other news, CFO Edward H. Myles sold 206,240 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 161,088 shares of the company’s stock, valued at $4,278,497.28. The trade was a 56.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tracey Sacco sold 30,000 shares of Scholar Rock stock in a transaction 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 completion of the sale, the insider now owns 49,285 shares in the company, valued at $1,262,681.70. The trade was a 37.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,823,322 shares of company stock valued at $56,411,627 in the last 90 days. 19.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Jane Street Group LLC lifted its stake in Scholar Rock by 95.5% in the 1st quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock valued at $4,339,000 after purchasing an additional 119,363 shares during the last quarter. Clearbridge Investments LLC bought a new position in shares of Scholar Rock during the 2nd quarter worth approximately $6,223,000. Kennedy Capital Management LLC acquired a new position in shares of Scholar Rock during the 1st quarter worth approximately $4,900,000. Vanguard Group Inc. raised its stake in Scholar Rock by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock valued at $52,739,000 after acquiring an additional 114,550 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Scholar Rock during the 3rd quarter valued at $1,093,000. 91.08% of the stock is 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.