Scholar Rock (NASDAQ:SRRK) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Scholar Rock (NASDAQ:SRRK) in a research report released on Wednesday morning, Benzinga reports. They currently have a $30.00 target price on the stock.

Several other brokerages also recently weighed in on SRRK. Wedbush reaffirmed an outperform rating and set a $23.00 price target on shares of Scholar Rock in a report on Tuesday. Raymond James assumed coverage on shares of Scholar Rock in a research note on Thursday, March 28th. They set a strong-buy rating and a $30.00 target price on the stock. Truist Financial reiterated a buy rating and issued a $20.00 price target on shares of Scholar Rock in a research note on Wednesday, April 3rd. Finally, Piper Sandler reissued an overweight rating and set a $28.00 price target on shares of Scholar Rock in a report on Tuesday, March 26th. Five 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 company currently has a consensus rating of Buy and an average price target of $25.17.

Scholar Rock Price Performance

Shares of Scholar Rock stock opened at $14.50 on Wednesday. The stock’s fifty day moving average is $15.15 and its 200 day moving average is $14.95. Scholar Rock has a one year low of $5.56 and a one year high of $21.17. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.80 and a current ratio of 8.80. The stock has a market cap of $1.16 billion, a P/E ratio of -7.29 and a beta of 0.94.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same period in the previous year, the company earned ($0.46) earnings per share. Sell-side analysts anticipate that Scholar Rock will post -2.01 earnings per share for the current year.

Insider Buying and Selling at Scholar Rock

In related news, insider Mo Qatanani sold 2,512 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $39,538.88. Following the sale, the insider now directly owns 147,019 shares in the company, valued at $2,314,079.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Scholar Rock news, insider Mo Qatanani sold 2,512 shares of Scholar Rock stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $39,538.88. Following the sale, the insider now owns 147,019 shares of the company’s stock, valued at approximately $2,314,079.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Junlin Ho sold 3,489 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $54,916.86. Following the sale, the general counsel now directly owns 208,771 shares in the company, valued at $3,286,055.54. The disclosure for this sale can be found here. Insiders sold 22,359 shares of company stock valued at $351,931 in the last 90 days. Insiders own 26.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in shares of Scholar Rock by 16.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock valued at $156,444,000 after acquiring an additional 1,149,519 shares during the period. FMR LLC boosted its holdings in Scholar Rock by 3.8% during the 3rd quarter. FMR LLC now owns 8,005,654 shares of the company’s stock valued at $56,840,000 after acquiring an additional 291,156 shares during the period. Redmile Group LLC lifted its position in shares of Scholar Rock by 7.5% during the third quarter. Redmile Group LLC now owns 4,733,248 shares of the company’s stock worth $33,606,000 after purchasing an additional 329,408 shares during the last quarter. Bellevue Group AG boosted its stake in shares of Scholar Rock by 1.5% during the fourth quarter. Bellevue Group AG now owns 2,168,925 shares of the company’s stock valued at $40,776,000 after purchasing an additional 31,000 shares during the period. Finally, Polar Capital Holdings Plc bought a new position in shares of Scholar Rock in the third quarter worth about $10,664,000. 91.08% of the stock is owned by hedge funds and other 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.