Scholar Rock Holding Co. (NASDAQ:SRRK) Receives $33.29 Consensus Price Target from Analysts

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have been assigned a consensus rating of “Buy” from the seven analysts that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $34.00.

Several research analysts have recently weighed in on the company. Wedbush restated an “outperform” rating and set a $37.00 target price on shares of Scholar Rock in a report on Monday, November 4th. BMO Capital Markets upped their target price on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Piper Sandler lifted their price target on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. upped their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, HC Wainwright lifted their target price on shares of Scholar Rock from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday.

Insiders Place Their Bets

In other Scholar Rock news, CFO Edward H. Myles sold 206,240 shares of the company’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 transaction, the chief financial officer now directly owns 161,088 shares in the company, valued at $4,278,497.28. This represents a 56.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tracey Sacco sold 30,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the transaction, the insider now owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. This represents a 37.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,413,889 shares of company stock valued at $40,652,551 over the last 90 days. 19.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Scholar Rock

Several hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Scholar Rock by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after purchasing an additional 514 shares during the period. American International Group Inc. increased its stake in Scholar Rock by 3.0% during the 1st quarter. American International Group Inc. now owns 28,407 shares of the company’s stock worth $505,000 after buying an additional 834 shares during the period. Rice Hall James & Associates LLC boosted its position 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 during the period. ProShare Advisors LLC boosted its position in Scholar Rock by 11.7% in the 1st quarter. ProShare Advisors LLC now owns 15,412 shares of the company’s stock valued at $274,000 after buying an additional 1,620 shares during the period. Finally, ClariVest Asset Management LLC grew its stake in shares of Scholar Rock by 3.0% in 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. Institutional investors and hedge funds own 91.08% of the company’s stock.

Scholar Rock Stock Performance

SRRK opened at $27.50 on Friday. Scholar Rock has a twelve month low of $6.76 and a twelve month high of $35.38. The firm has a market capitalization of $2.20 billion, a PE ratio of -11.70 and a beta of 0.47. The company has a current ratio of 6.04, a quick ratio of 6.04 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average price is $20.24 and its 200 day moving average price is $13.53.

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.