Scholar Rock’s (SRRK) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a report released on Monday morning, RTT News reports. Wedbush currently has a $37.00 target price on the stock.

A number of other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. BMO Capital Markets lifted their target price on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Piper Sandler increased their price target on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, HC Wainwright raised their price objective on Scholar Rock from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Scholar Rock presently has a consensus rating of “Buy” and an average price target of $33.29.

Scholar Rock Price Performance

Shares of SRRK opened at $29.63 on Monday. The stock has a market cap of $2.37 billion, a P/E ratio of -13.35 and a beta of 0.47. The business’s fifty day moving average is $17.97 and its 200 day moving average is $12.95. The company has a quick ratio of 6.04, a current ratio of 6.04 and a debt-to-equity ratio of 0.36. Scholar Rock has a 12-month low of $6.76 and a 12-month high of $35.38.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.01. During the same quarter last year, the firm earned ($0.47) EPS. Sell-side analysts anticipate that Scholar Rock will post -2.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Edward H. Myles sold 206,240 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the completion of the sale, the chief financial officer now directly owns 161,088 shares of the company’s stock, valued at $4,278,497.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Edward H. Myles sold 206,240 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the completion of the sale, the chief financial officer now owns 161,088 shares in the company, valued at approximately $4,278,497.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Srinivas Akkaraju sold 1,175,713 shares of Scholar Rock stock in a transaction dated 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 sale, the director now directly owns 5,612,896 shares in the company, valued at approximately $164,177,208. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,415,340 shares of company stock worth $40,666,088. 19.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC boosted its holdings in Scholar Rock by 95.5% in the 1st quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock worth $4,339,000 after buying an additional 119,363 shares during the period. Clearbridge Investments LLC bought a new position in shares of Scholar Rock in the second quarter worth $6,223,000. Kennedy Capital Management LLC purchased a new position in shares of Scholar Rock in the first quarter valued at $4,900,000. Vanguard Group Inc. raised its stake in shares of Scholar Rock by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock valued at $52,739,000 after purchasing an additional 114,550 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Scholar Rock during the 3rd quarter worth about $1,093,000. 91.08% of the stock is owned by institutional investors.

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.