Analysts Set Scholar Rock Holding Co. (NASDAQ:SRRK) Price Target at $28.25

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have received an average recommendation of “Buy” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $31.63.

A number of brokerages recently commented on SRRK. 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. HC Wainwright boosted their target price on shares of Scholar Rock from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. boosted their target price 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. BMO Capital Markets upped their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Finally, Wedbush raised their price objective on Scholar Rock from $27.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 7th.

Insider Buying and Selling

In related news, Director Srinivas Akkaraju sold 1,175,713 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the transaction, the director now owns 5,612,896 shares of the company’s stock, valued at $164,177,208. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Srinivas Akkaraju sold 1,175,713 shares of the firm’s stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tracey Sacco sold 30,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,262,681.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,415,340 shares of company stock valued at $40,666,088 over the last quarter. 26.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Scholar Rock

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC lifted its position in Scholar Rock by 95.5% in the first 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 period. Clearbridge Investments LLC acquired a new stake in Scholar Rock in the second quarter valued at about $6,223,000. Kennedy Capital Management LLC acquired a new stake in Scholar Rock in the first quarter valued at about $4,900,000. Vanguard Group Inc. lifted its position in Scholar Rock by 4.0% in the first quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock valued at $52,739,000 after purchasing an additional 114,550 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Scholar Rock during the 3rd quarter valued at approximately $1,093,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Scholar Rock Stock Up 4.4 %

Scholar Rock stock opened at $30.55 on Monday. Scholar Rock has a twelve month low of $6.48 and a twelve month high of $35.38. The stock’s fifty day simple moving average is $12.79 and its 200-day simple moving average is $11.60. The company has a current ratio of 6.04, a quick ratio of 6.04 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.44 billion, a P/E ratio of -14.62 and a beta of 0.82.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.01. During the same quarter last year, the company posted ($0.47) EPS. As a group, equities analysts expect that Scholar Rock will post -2.38 earnings per share for the current fiscal year.

Scholar Rock Company Profile

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.