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

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating reiterated by Wedbush in a note issued to investors on Monday, RTT News reports. They presently have a $37.00 target price on the stock. Wedbush’s target price would indicate a potential upside of 29.24% from the company’s current price.

A number of other research firms have also recently issued reports on SRRK. Piper Sandler raised their price target on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. BMO Capital Markets raised 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. JPMorgan Chase & Co. upped their target price on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, HC Wainwright raised their price target on shares of Scholar Rock from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $33.29.

Scholar Rock Stock Up 3.5 %

Shares of Scholar Rock stock opened at $28.63 on Monday. The company has a quick ratio of 6.04, a current ratio of 6.04 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.29 billion, a P/E ratio of -12.90 and a beta of 0.47. The firm’s 50 day moving average price is $17.17 and its 200-day moving average price is $12.73. Scholar Rock has a 52-week low of $6.76 and a 52-week high of $35.38.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly 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 in the previous year, the business posted ($0.47) EPS. On average, sell-side analysts predict that Scholar Rock will post -2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Srinivas Akkaraju sold 1,175,713 shares of Scholar Rock stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the completion of the transaction, the director now directly owns 5,612,896 shares of the company’s stock, valued at $164,177,208. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Scholar Rock news, insider Tracey Sacco sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the sale, the insider now directly owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $29.25, for a total value of $34,389,605.25. Following the transaction, the director now owns 5,612,896 shares in the company, valued at $164,177,208. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,415,340 shares of company stock worth $40,666,088. Corporate insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

Several institutional investors have recently modified their holdings of SRRK. Mirae Asset Global Investments Co. Ltd. lifted its stake in Scholar Rock by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after buying an additional 514 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Scholar Rock in the second quarter valued at approximately $98,000. Hsbc Holdings PLC purchased a new position in shares of Scholar Rock in the second quarter valued at approximately $100,000. Point72 DIFC Ltd acquired a new stake in shares of Scholar Rock in the second quarter worth approximately $103,000. Finally, Creative Planning purchased a new stake in shares of Scholar Rock during the third quarter worth approximately $115,000. Institutional investors and hedge funds 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.