Scholar Rock (NASDAQ:SRRK) Earns “Outperform” Rating from Wedbush

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a report issued on Thursday,RTT News reports. They presently have a $47.00 price target on the stock. Wedbush’s price objective would suggest a potential upside of 16.08% from the company’s current price.

A number of other equities analysts have also commented on SRRK. 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 research note on Friday, October 11th. Truist Financial increased their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Piper Sandler boosted their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. increased their price target on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, HC Wainwright boosted their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $40.43.

Scholar Rock Stock Performance

NASDAQ SRRK opened at $40.49 on Thursday. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of -17.23 and a beta of 0.52. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock has a 1-year low of $6.76 and a 1-year high of $46.19. The company has a 50 day moving average of $37.61 and a 200-day moving average of $21.43.

Insiders Place Their Bets

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the transaction, the insider now owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. This trade represents a 3.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after purchasing an additional 269 shares during the period. JPMorgan Chase & Co. raised its stake in Scholar Rock by 1.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock worth $310,000 after buying an additional 379 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 valued at $25,000 after acquiring an additional 514 shares during the period. Rice Hall James & Associates LLC increased its holdings in shares of Scholar Rock by 3.6% in the second quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company’s stock worth $383,000 after acquiring an additional 1,594 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its position in shares of Scholar Rock by 3.0% during the second quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company’s stock worth $497,000 after purchasing an additional 1,718 shares during the period. 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.