Scholar Rock Holding Corporation (NASDAQ:SRRK) Stock Has Average Target Price of $67.67

Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) have received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation, ten have given a buy recommendation and four have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $67.67.

A number of analysts recently issued reports on SRRK shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Scholar Rock in a report on Friday, July 17th. Jefferies Financial Group raised their target price on Scholar Rock from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, September 14th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 target price on shares of Scholar Rock in a report on Monday, September 21st. Citigroup lifted their target price on Scholar Rock from $60.00 to $74.00 and gave the company a “buy” rating in a report on Monday, September 14th. Finally, HC Wainwright upped their price target on Scholar Rock from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, September 15th.

Scholar Rock Stock Performance

NASDAQ:SRRK opened at $42.19 on Friday. The company has a market cap of $5.14 billion, a P/E ratio of -12.23 and a beta of 0.61. The stock’s fifty day moving average price is $51.63 and its two-hundred day moving average price is $49.99. Scholar Rock has a 1 year low of $27.07 and a 1 year high of $61.76. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.02 and a quick ratio of 7.02.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) EPS for the quarter, hitting analysts’ consensus estimates of ($0.84). During the same period in the prior year, the business earned ($0.98) earnings per share. As a group, analysts expect that Scholar Rock will post -3.23 EPS for the current year.

Hedge Funds Weigh In On Scholar Rock

A number of large investors have recently modified their holdings of the company. Allworth Financial LP purchased a new stake in Scholar Rock in the 2nd quarter worth approximately $35,000. PNC Financial Services Group Inc. boosted its holdings in Scholar Rock by 92.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,270 shares of the company’s stock valued at $62,000 after purchasing an additional 610 shares during the period. GAMMA Investing LLC grew its position in shares of Scholar Rock by 20.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,406 shares of the company’s stock valued at $77,000 after purchasing an additional 242 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Scholar Rock during the 2nd quarter valued at $99,000. Finally, Persistent Asset Partners Ltd purchased a new position in shares of Scholar Rock during the 2nd quarter valued at $137,000. 91.08% of the stock is currently owned by institutional investors.

About Scholar Rock

Scholar Rock Holding Corporation (NASDAQ: SRRK) is a clinical-stage biopharmaceutical company focused on developing medicines that selectively target the activation of growth factors. The company’s approach is designed to modulate biologic pathways in specific tissues while potentially limiting effects elsewhere in the body.

Scholar Rock’s lead product candidate is apitegromab, a monoclonal antibody designed to inhibit the activation of myostatin, a protein that negatively regulates muscle growth.