Scholar Rock Holding Corporation (NASDAQ:SRRK) Stock Has Consensus Target Price of $67.67 According to Brokerages

Scholar Rock Holding Corporation (NASDAQ:SRRK) has earned an average rating of “Moderate Buy” from the seventeen brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and four have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $67.67.

Several brokerages recently weighed in on SRRK. Evercore reissued an “outperform” rating and set a $72.00 price target on shares of Scholar Rock in a research report on Tuesday, September 15th. UBS Group reaffirmed a “buy” rating on shares of Scholar Rock in a research report on Tuesday, September 15th. Barclays downgraded Scholar Rock from an “overweight” rating to a “cautious” rating in a research note on Tuesday, September 15th. HC Wainwright lifted their target price on Scholar Rock from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, September 15th. Finally, Citigroup boosted their price target on Scholar Rock from $60.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, September 14th.

Scholar Rock Stock Down 1.3%

Shares of Scholar Rock stock opened at $45.50 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 7.02 and a current ratio of 7.02. The stock has a market capitalization of $5.54 billion, a PE ratio of -13.19 and a beta of 0.78. Scholar Rock has a 52-week low of $27.07 and a 52-week high of $61.76. The company has a 50-day simple moving average of $47.38 and a two-hundred day simple moving average of $48.18.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.84). During the same quarter in the prior year, the company posted ($0.98) earnings per share. On average, analysts anticipate that Scholar Rock will post -3.29 EPS for the current fiscal year.

Insider Activity at Scholar Rock

In other Scholar Rock news, Director Srinivas Akkaraju acquired 146,970 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The shares were bought at an average cost of $41.59 per share, with a total value of $6,112,482.30. Following the completion of the transaction, the director directly owned 6,380,517 shares of the company’s stock, valued at approximately $265,365,702.03. This represents a 2.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Scholar Rock

Hedge funds have recently bought and sold shares of the business. Verus Capital Partners LLC boosted its position in Scholar Rock by 29.0% in the third quarter. Verus Capital Partners LLC now owns 5,745 shares of the company’s stock worth $278,000 after purchasing an additional 1,292 shares during the last quarter. AlphaCentric Advisors LLC purchased a new stake in shares of Scholar Rock during the 3rd quarter valued at about $472,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Scholar Rock during the 3rd quarter valued at about $301,000. State of Wyoming bought a new position in shares of Scholar Rock in the 3rd quarter worth approximately $167,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Scholar Rock by 16.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 22,221 shares of the company’s stock worth $1,061,000 after buying an additional 3,150 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

About Scholar Rock

Scholar Rock, Inc is a biotechnology company focused on developing medicines that selectively target growth factors in the transforming growth factor beta (TGF-β) superfamily. The company’s research is intended to address serious diseases in which these signaling pathways play an important role, including neuromuscular and metabolic conditions.

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