Scholar Rock (NASDAQ:SRRK) Price Target Increased to $42.00 by Analysts at Piper Sandler

Scholar Rock (NASDAQ:SRRK) had its price objective lifted by Piper Sandler from $28.00 to $42.00 in a report published on Tuesday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the stock. Wedbush boosted their price target 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. JPMorgan Chase & Co. boosted their target price on Scholar Rock from $18.00 to $31.00 and gave the stock an overweight rating in a research note on Monday. BMO Capital Markets increased their price target on Scholar Rock from $34.00 to $38.00 and gave the company an outperform rating in a research report on Friday, October 11th. Finally, HC Wainwright boosted their price objective on Scholar Rock from $30.00 to $35.00 and gave the stock a buy rating in a research report on Monday, October 7th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus target price of $31.63.

Scholar Rock Stock Performance

Shares of Scholar Rock stock opened at $28.54 on Tuesday. Scholar Rock has a 52 week low of $6.48 and a 52 week high of $35.38. The company has a quick ratio of 6.04, a current ratio of 6.04 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $11.51 and a 200-day moving average price of $11.26. The company has a market cap of $2.28 billion, a PE ratio of -13.66 and a beta of 0.82.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.01. During the same period in the previous year, the business earned ($0.47) earnings per share. Equities analysts anticipate that Scholar Rock will post -2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 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 owns 161,088 shares of the company’s stock, valued at $4,278,497.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Srinivas Akkaraju sold 1,175,713 shares of the business’s 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 sale, the director now directly owns 5,612,896 shares in the company, valued at approximately $164,177,208. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Edward H. Myles sold 206,240 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $26.56, for a total value of $5,477,734.40. Following the completion of the transaction, the chief financial officer now owns 161,088 shares of the company’s stock, valued at approximately $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 valued at $40,666,088 over the last ninety days. 26.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Scholar Rock

A number of large investors have recently modified their holdings of SRRK. Walleye Trading LLC purchased a new stake in Scholar Rock in the 1st quarter worth approximately $178,000. Principal Financial Group Inc. bought a new stake in Scholar Rock during the second quarter valued at $98,000. Hsbc Holdings PLC purchased a new position in Scholar Rock during the second quarter worth about $100,000. Point72 DIFC Ltd bought a new position in Scholar Rock in the 2nd quarter worth about $103,000. Finally, Creative Planning purchased a new stake in shares of Scholar Rock in the 3rd quarter valued at about $115,000. 91.08% of the stock is currently owned by institutional investors.

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.