Scholar Rock (NASDAQ:SRRK) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Scholar Rock (NASDAQ:SRRK) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $46.00 to $47.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 21.19% from the stock’s current price.

SRRK has been the topic of several other reports. BMO Capital Markets restated an “outperform” rating and set a $50.00 price objective on shares of Scholar Rock in a research note on Friday. Truist Financial decreased their target price on Scholar Rock from $54.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, October 20th. HC Wainwright decreased their target price on Scholar Rock from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, September 23rd. Piper Sandler dropped their price target on Scholar Rock from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, September 24th. Finally, Barclays boosted their price target on Scholar Rock from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Scholar Rock has an average rating of “Buy” and a consensus price target of $48.33.

Scholar Rock Stock Up 6.3%

Shares of NASDAQ SRRK traded up $2.31 during mid-day trading on Tuesday, hitting $38.78. The company had a trading volume of 588,802 shares, compared to its average volume of 1,629,912. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.21. The firm has a 50-day simple moving average of $32.55 and a two-hundred day simple moving average of $33.43. The company has a market capitalization of $3.73 billion, a PE ratio of -13.33 and a beta of 0.79. Scholar Rock has a one year low of $22.71 and a one year high of $46.98.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.02). During the same quarter in the previous year, the business earned ($0.66) earnings per share. On average, equities analysts expect that Scholar Rock will post -2.42 EPS for the current year.

Insider Activity at Scholar Rock

In related news, Director Katie Peng sold 1,006 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $32.53, for a total transaction of $32,725.18. Following the completion of the sale, the director owned 33,914 shares of the company’s stock, valued at $1,103,222.42. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Srinivas Akkaraju bought 387,414 shares of the company’s stock in a transaction dated Friday, October 3rd. The stock was purchased at an average price of $37.27 per share, with a total value of $14,438,919.78. Following the completion of the transaction, the director directly owned 387,414 shares in the company, valued at approximately $14,438,919.78. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 7,537 shares of company stock valued at $242,088 over the last quarter. 13.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lord Abbett & CO. LLC increased its holdings in Scholar Rock by 86.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 877,374 shares of the company’s stock worth $28,207,000 after purchasing an additional 406,074 shares in the last quarter. Northern Trust Corp grew its stake in shares of Scholar Rock by 2.5% in the first quarter. Northern Trust Corp now owns 765,280 shares of the company’s stock worth $24,604,000 after purchasing an additional 18,753 shares during the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. increased its stake in shares of Scholar Rock by 145.3% in the second quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 769,442 shares of the company’s stock valued at $27,254,000 after buying an additional 455,753 shares during the period. Intech Investment Management LLC raised its holdings in Scholar Rock by 60.9% during the 1st quarter. Intech Investment Management LLC now owns 56,784 shares of the company’s stock worth $1,826,000 after purchasing an additional 21,483 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Scholar Rock during the first quarter worth $458,000. Institutional investors own 91.08% of the company’s stock.

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.