Scholar Rock Holding Co. (NASDAQ:SRRK) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Scholar Rock Holding Co. (NASDAQ:SRRKGet Free Report) have received a consensus rating of “Buy” from the seven research firms that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $26.00.

SRRK has been the topic of several recent research reports. Piper Sandler reissued an “overweight” rating and set a $28.00 price objective on shares of Scholar Rock in a report on Tuesday, March 26th. Truist Financial restated a “buy” rating and set a $20.00 price target on shares of Scholar Rock in a report on Wednesday, April 3rd. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Scholar Rock in a research report on Tuesday, June 25th. BMO Capital Markets lifted their price target on shares of Scholar Rock from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Finally, Wedbush restated an “outperform” rating and issued a $23.00 price objective on shares of Scholar Rock in a report on Tuesday, May 7th.

View Our Latest Stock Report on SRRK

Insider Transactions at Scholar Rock

In related news, CFO Edward H. Myles sold 9,458 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $8.98, for a total value of $84,932.84. Following the transaction, the chief financial officer now owns 201,518 shares in the company, valued at $1,809,631.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Scholar Rock news, General Counsel Junlin Ho sold 4,695 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $8.98, for a total transaction of $42,161.10. Following the transaction, the general counsel now directly owns 204,076 shares in the company, valued at approximately $1,832,602.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Edward H. Myles sold 9,458 shares of Scholar Rock stock in a transaction on Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $84,932.84. Following the completion of the sale, the chief financial officer now owns 201,518 shares of the company’s stock, valued at approximately $1,809,631.64. The disclosure for this sale can be found here. Insiders sold a total of 16,468 shares of company stock worth $147,883 over the last three months. 26.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank raised its holdings in shares of Scholar Rock by 15.5% during the fourth quarter. Amalgamated Bank now owns 4,869 shares of the company’s stock valued at $92,000 after purchasing an additional 652 shares during the period. American International Group Inc. boosted its holdings in 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. Jennison Associates LLC grew its stake in Scholar Rock by 1.0% in the first quarter. Jennison Associates LLC now owns 138,458 shares of the company’s stock valued at $2,459,000 after acquiring an additional 1,409 shares during the period. ProShare Advisors LLC increased its holdings in shares of Scholar Rock by 11.7% during the first quarter. ProShare Advisors LLC now owns 15,412 shares of the company’s stock valued at $274,000 after acquiring an additional 1,620 shares in the last quarter. Finally, Alps Advisors Inc. raised its position in shares of Scholar Rock by 4.1% during the third quarter. Alps Advisors Inc. now owns 41,535 shares of the company’s stock worth $295,000 after purchasing an additional 1,628 shares during the period. 91.08% of the stock is owned by institutional investors.

Scholar Rock Stock Performance

NASDAQ SRRK opened at $8.27 on Friday. Scholar Rock has a 12-month low of $5.93 and a 12-month high of $21.17. The firm has a 50-day moving average price of $10.41 and a two-hundred day moving average price of $13.83. The company has a market capitalization of $659.57 million, a P/E ratio of -3.96 and a beta of 0.85. The company has a quick ratio of 6.58, a current ratio of 6.58 and a debt-to-equity ratio of 0.24.

Scholar Rock (NASDAQ:SRRKGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same quarter last year, the company posted ($0.46) earnings per share. Analysts anticipate that Scholar Rock will post -2.4 earnings per share for the current year.

Scholar Rock Company Profile

(Get Free Report

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.

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Analyst Recommendations for Scholar Rock (NASDAQ:SRRK)

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