Scholar Rock (NASDAQ:SRRK – Get Free Report) had its price target increased by analysts at JPMorgan Chase & Co. from $18.00 to $31.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 12.73% from the company’s current price.
Several other research firms also recently weighed in on SRRK. HC Wainwright upped their price objective on shares of Scholar Rock from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Wedbush upped their target price on shares of Scholar Rock from $27.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Finally, BMO Capital Markets lifted their price target on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $29.88.
Get Our Latest Research Report on Scholar Rock
Scholar Rock Stock Up 3.7 %
Scholar Rock (NASDAQ:SRRK – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same period in the prior year, the company posted ($0.47) EPS. Sell-side analysts predict that Scholar Rock will post -2.38 EPS for the current fiscal year.
Insider Buying and Selling at Scholar Rock
In related news, CFO Edward H. Myles sold 206,240 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $26.56, for a total value of $5,477,734.40. Following the transaction, the chief financial officer now directly owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Scholar Rock news, Director Srinivas Akkaraju sold 1,175,713 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the completion of the transaction, the director now directly owns 5,612,896 shares of the company’s stock, valued at approximately $164,177,208. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Edward H. Myles sold 206,240 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $26.56, for a total value of $5,477,734.40. Following the transaction, the chief financial officer now directly owns 161,088 shares in the company, valued at $4,278,497.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,415,340 shares of company stock worth $40,666,088 in the last quarter. 26.20% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Scholar Rock
Several large investors have recently added to or reduced their stakes in the company. American International Group Inc. boosted its position in Scholar Rock by 3.0% during the first quarter. American International Group Inc. now owns 28,407 shares of the company’s stock worth $505,000 after purchasing an additional 834 shares during the period. Jennison Associates LLC grew its stake in Scholar Rock by 1.0% in the 1st quarter. Jennison Associates LLC now owns 138,458 shares of the company’s stock valued at $2,459,000 after buying an additional 1,409 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in Scholar Rock by 3.6% in the 2nd quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company’s stock valued at $383,000 after buying an additional 1,594 shares in the last quarter. ProShare Advisors LLC raised its holdings in Scholar Rock by 11.7% during the 1st quarter. ProShare Advisors LLC now owns 15,412 shares of the company’s stock valued at $274,000 after acquiring an additional 1,620 shares during the period. Finally, ClariVest Asset Management LLC lifted its position in shares of Scholar Rock by 3.0% during the second quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company’s stock worth $497,000 after acquiring an additional 1,718 shares in the last quarter. Hedge funds and other 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.
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