Bank of America Begins Coverage on Scholar Rock (NASDAQ:SRRK)

Stock analysts at Bank of America began coverage on shares of Scholar Rock (NASDAQ:SRRK) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $53.00 price target on the stock. Bank of America‘s price target would suggest a potential upside of 34.31% from the stock’s current price.

A number of other research analysts have also recently commented on SRRK. Leerink Partners started coverage on Scholar Rock in a research report on Monday, September 15th. They set an “outperform” rating and a $51.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and set a $50.00 price target on shares of Scholar Rock in a research report on Wednesday, June 18th. Barclays dropped their price objective on Scholar Rock from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, September 24th. Piper Sandler dropped their price objective on Scholar Rock from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, September 24th. Finally, Cantor Fitzgerald initiated coverage on Scholar Rock in a report on Thursday, July 17th. They set an “overweight” rating on the stock. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $47.00.

Scholar Rock Stock Down 3.7%

Shares of NASDAQ SRRK opened at $39.46 on Thursday. Scholar Rock has a one year low of $22.71 and a one year high of $46.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.33 and a quick ratio of 6.33. The business’s fifty day moving average price is $34.06 and its 200-day moving average price is $33.36. The stock has a market capitalization of $3.79 billion, a PE ratio of -13.56 and a beta of 0.42.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.32). During the same quarter in the previous year, the firm earned ($0.60) earnings per share. On average, equities research analysts anticipate that Scholar Rock will post -2.42 EPS for the current year.

Insiders Place Their Bets

In other Scholar Rock news, insider Mo Qatanani sold 3,353 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $30.67, for a total value of $102,836.51. Following the transaction, the insider directly owned 108,964 shares in the company, valued at $3,341,925.88. This represents a 2.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey S. Flier sold 11,136 shares of the company’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $40.02, for a total value of $445,662.72. Following the completion of the transaction, the director owned 24,070 shares in the company, valued at $963,281.40. This represents a 31.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,673 shares of company stock valued at $687,751 over the last 90 days. 13.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Scholar Rock

A number of institutional investors have recently added to or reduced their stakes in SRRK. GAMMA Investing LLC increased its stake in Scholar Rock by 3,824.9% in the 1st quarter. GAMMA Investing LLC now owns 30,928 shares of the company’s stock worth $962,000 after acquiring an additional 30,140 shares during the last quarter. Rhumbline Advisers increased its stake in Scholar Rock by 6.6% in the 1st quarter. Rhumbline Advisers now owns 120,752 shares of the company’s stock worth $3,882,000 after acquiring an additional 7,491 shares during the last quarter. SG Americas Securities LLC increased its stake in Scholar Rock by 11.1% in the 1st quarter. SG Americas Securities LLC now owns 24,122 shares of the company’s stock worth $776,000 after acquiring an additional 2,412 shares during the last quarter. GF Fund Management CO. LTD. increased its position in shares of Scholar Rock by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company’s stock valued at $77,000 after purchasing an additional 430 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Scholar Rock by 4.2% during the 1st quarter. Bank of New York Mellon Corp now owns 216,223 shares of the company’s stock valued at $6,952,000 after purchasing an additional 8,731 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors.

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.