Scholar Rock Holding Corporation (NASDAQ:SRRK) Receives $58.77 Average Price Target from Brokerages

Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) have earned a consensus recommendation of “Buy” from the eighteen ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, twelve have assigned a buy recommendation and four have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $66.00.

Several equities research analysts have recently issued reports on SRRK shares. HC Wainwright raised their price target on shares of Scholar Rock from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. BMO Capital Markets increased their price objective on Scholar Rock from $76.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, September 14th. Evercore reissued an “outperform” rating and issued a $72.00 target price on shares of Scholar Rock in a research report on Tuesday, September 15th. Raymond James Financial upped their price target on Scholar Rock from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research report on Monday, September 14th. Finally, JPMorgan Chase & Co. boosted their price objective on Scholar Rock from $56.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th.

Scholar Rock Stock Performance

Shares of SRRK opened at $46.65 on Monday. The company has a current ratio of 7.02, a quick ratio of 7.02 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of -13.52 and a beta of 0.67. The stock has a 50 day moving average of $52.84 and a 200 day moving average of $49.67. Scholar Rock has a 12 month low of $27.07 and a 12 month high of $61.76.

Scholar Rock (NASDAQ:SRRK) last announced its earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.84). During the same period in the previous year, the business earned ($0.98) EPS. As a group, sell-side analysts forecast that Scholar Rock will post -3.24 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Michael Gilman sold 2,544 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $53.87, for a total value of $137,045.28. Following the completion of the transaction, the director directly owned 59,511 shares of the company’s stock, valued at approximately $3,205,857.57. This trade represents a 4.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kristina Burow sold 3,053 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total transaction of $164,068.22. Following the sale, the director directly owned 114,657 shares in the company, valued at $6,161,667.18. The trade was a 2.59% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 17,149 shares of company stock worth $923,108 in the last 90 days. 10.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP boosted its position in shares of Scholar Rock by 211.3% in the second quarter. Engineers Gate Manager LP now owns 23,933 shares of the company’s stock valued at $1,316,000 after acquiring an additional 16,245 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Scholar Rock in the 2nd quarter worth approximately $99,000. Squarepoint Ops LLC boosted its holdings in Scholar Rock by 484.5% in the 2nd quarter. Squarepoint Ops LLC now owns 291,996 shares of the company’s stock valued at $16,060,000 after purchasing an additional 242,041 shares during the period. Arizona State Retirement System grew its position in shares of Scholar Rock by 20.1% during the 2nd quarter. Arizona State Retirement System now owns 20,605 shares of the company’s stock valued at $1,133,000 after purchasing an additional 3,442 shares in the last quarter. Finally, Nykredit A S bought a new stake in Scholar Rock during the second quarter valued at $215,000. 91.08% of the stock is currently owned by institutional investors.

About Scholar Rock

Scholar Rock, Inc is a biopharmaceutical company focused on developing medicines that selectively target growth factors in their latent forms. The company’s approach is designed to modulate the activation of growth factors in specific tissues, with the goal of addressing diseases in which these biological pathways contribute to impaired function or abnormal tissue growth.

Scholar Rock’s lead program is apitegromab, a monoclonal antibody designed to inhibit the activation of myostatin. The company has studied apitegromab as a potential treatment for spinal muscular atrophy, a genetic neuromuscular disorder that causes progressive muscle weakness and loss of motor function.