Scholar Rock Holding Co. (NASDAQ:SRRK) Given Consensus Recommendation of “Buy” by Analysts

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have been given an average recommendation of “Buy” by the seven analysts that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $33.29.

A number of equities research analysts have recently commented on the stock. BMO Capital Markets upped their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. HC Wainwright upped their target price on shares of Scholar Rock from $30.00 to $35.00 and gave the company a “buy” rating in a report on Monday, October 7th. Piper Sandler upped their target price 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. Wedbush reiterated an “outperform” rating and set a $37.00 price target on shares of Scholar Rock in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th.

Insider Buying and Selling at Scholar Rock

In related news, CFO Edward H. Myles sold 206,240 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the transaction, the chief financial officer now owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Edward H. Myles sold 206,240 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the transaction, the chief financial officer now owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the company’s 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 transaction, the director now directly owns 5,612,896 shares in the company, valued at $164,177,208. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,415,340 shares of company stock valued at $40,666,088 over the last quarter. Corporate insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

Large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 worth $25,000 after acquiring an additional 514 shares in the last quarter. American International Group Inc. increased its position in shares of Scholar Rock by 3.0% in the first quarter. American International Group Inc. now owns 28,407 shares of the company’s stock worth $505,000 after acquiring an additional 834 shares in the last quarter. Rice Hall James & Associates LLC increased its position 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. ProShare Advisors LLC increased its position in shares of Scholar Rock by 11.7% in the first quarter. ProShare Advisors LLC now owns 15,412 shares of the company’s stock worth $274,000 after acquiring an additional 1,620 shares in the last quarter. Finally, ClariVest Asset Management LLC increased its position in shares of Scholar Rock by 3.0% in the second quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company’s stock worth $497,000 after acquiring an additional 1,718 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Price Performance

Shares of SRRK opened at $28.95 on Friday. Scholar Rock has a 1-year low of $6.76 and a 1-year high of $35.38. The stock has a market cap of $2.32 billion, a PE ratio of -13.04 and a beta of 0.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.04 and a quick ratio of 6.04. The firm has a fifty day moving average price of $18.37 and a 200 day moving average price of $13.06.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.01. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. As a group, sell-side analysts anticipate that Scholar Rock will post -2.37 EPS for the current year.

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.