Scholar Rock Holding Co. (NASDAQ:SRRK) Receives Average Rating of “Buy” from Analysts

Scholar Rock Holding Co. (NASDAQ:SRRK) has earned a consensus rating of “Buy” from the seven ratings firms that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $26.00.

A number of equities analysts have weighed in on the company. Truist Financial reiterated a “buy” rating and set a $20.00 price objective on shares of Scholar Rock in a research note on Wednesday, April 3rd. Piper Sandler reiterated an “overweight” rating and set a $28.00 price objective on shares of Scholar Rock in a research note on Tuesday, March 26th. BMO Capital Markets lifted their price objective on Scholar Rock from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Wedbush reiterated an “outperform” rating and set a $23.00 price objective on shares of Scholar Rock in a research note on Tuesday, May 7th. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Scholar Rock in a research note on Tuesday, June 25th.

Scholar Rock Stock Performance

Shares of SRRK stock opened at $9.10 on Friday. The firm has a market capitalization of $725.73 million, a price-to-earnings ratio of -4.35 and a beta of 0.85. The company has a debt-to-equity ratio of 0.24, a current ratio of 6.58 and a quick ratio of 6.58. The business has a fifty day moving average of $10.16 and a 200 day moving average of $13.73. Scholar Rock has a 1 year low of $5.93 and a 1 year high of $21.17.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Tuesday, May 7th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). During the same period in the prior year, the firm posted ($0.46) earnings per share. As a group, research analysts expect that Scholar Rock will post -2.4 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Edward H. Myles sold 9,458 shares of Scholar Rock stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $8.98, for a total value of $84,932.84. Following the sale, the chief financial officer now directly owns 201,518 shares in the company, valued at approximately $1,809,631.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Edward H. Myles sold 9,458 shares of Scholar Rock stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $8.98, for a total value of $84,932.84. Following the sale, the chief financial officer now directly owns 201,518 shares in the company, valued at approximately $1,809,631.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Junlin Ho sold 4,695 shares of Scholar Rock stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $8.98, for a total value of $42,161.10. Following the completion of the sale, the general counsel now owns 204,076 shares in the company, valued at $1,832,602.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,468 shares of company stock worth $147,883. Insiders own 26.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. boosted its holdings in shares of Scholar Rock by 4.1% during the 3rd quarter. Alps Advisors Inc. now owns 41,535 shares of the company’s stock worth $295,000 after purchasing an additional 1,628 shares during the last quarter. Polar Capital Holdings Plc acquired a new position in shares of Scholar Rock during the 3rd quarter worth approximately $10,664,000. SG Americas Securities LLC boosted its holdings in shares of Scholar Rock by 26.5% during the 4th quarter. SG Americas Securities LLC now owns 27,198 shares of the company’s stock worth $511,000 after purchasing an additional 5,703 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Scholar Rock by 479.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company’s stock worth $157,000 after purchasing an additional 6,905 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Scholar Rock by 27.5% during the 4th quarter. Arizona State Retirement System now owns 13,796 shares of the company’s stock worth $259,000 after purchasing an additional 2,976 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.