Scholar Rock (NASDAQ:SRRK) Price Target Raised to $50.00

Scholar Rock (NASDAQ:SRRK) had its price objective upped by JPMorgan Chase & Co. from $47.00 to $50.00 in a research report released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other research analysts have also issued reports about the company. Truist Financial lifted their target price on Scholar Rock from $44.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Citigroup boosted their target price on Scholar Rock from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Barclays increased their price target on Scholar Rock from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Scholar Rock in a report on Thursday, December 11th. Finally, BMO Capital Markets boosted their price objective on Scholar Rock from $50.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, March 4th. Four analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $54.36.

Scholar Rock Stock Down 2.3%

Shares of NASDAQ SRRK opened at $39.79 on Monday. Scholar Rock has a 52-week low of $22.71 and a 52-week high of $49.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.95 and a current ratio of 6.95. The stock has a market cap of $4.57 billion, a P/E ratio of -11.60 and a beta of 0.70. The firm has a 50 day moving average price of $45.05 and a 200 day moving average price of $39.79.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.10. During the same quarter in the prior year, the firm earned ($0.64) EPS. Analysts expect that Scholar Rock will post -2.42 EPS for the current year.

Insider Activity

In related news, insider Akshay Vaishnaw sold 20,438 shares of the stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $42.70, for a total transaction of $872,702.60. Following the completion of the transaction, the insider directly owned 595,767 shares in the company, valued at approximately $25,439,250.90. This trade represents a 3.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vikas Sinha sold 16,755 shares of Scholar Rock stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $42.70, for a total value of $715,438.50. Following the completion of the sale, the chief financial officer directly owned 583,245 shares in the company, valued at approximately $24,904,561.50. This represents a 2.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 207,464 shares of company stock worth $9,157,423. 13.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Scholar Rock

A number of large investors have recently bought and sold shares of SRRK. Orbis Allan Gray Ltd raised its holdings in shares of Scholar Rock by 1,034.5% in the fourth quarter. Orbis Allan Gray Ltd now owns 3,428,929 shares of the company’s stock valued at $151,044,000 after purchasing an additional 3,126,677 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Scholar Rock by 124.5% during the third quarter. Wellington Management Group LLP now owns 4,545,887 shares of the company’s stock worth $169,289,000 after purchasing an additional 2,521,022 shares during the last quarter. Holocene Advisors LP bought a new position in Scholar Rock in the third quarter valued at $91,670,000. Norges Bank acquired a new stake in Scholar Rock in the 4th quarter valued at $91,603,000. Finally, Siren L.L.C. increased its stake in Scholar Rock by 17.0% in the 4th quarter. Siren L.L.C. now owns 10,825,013 shares of the company’s stock valued at $476,842,000 after buying an additional 1,575,008 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

About Scholar Rock

Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company’s research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock’s approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.

The company’s lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).