Scholar Rock (NASDAQ:SRRK – Get Free Report) had its price objective hoisted by research analysts at BMO Capital Markets from $31.00 to $34.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 302.37% from the company’s previous close.
Several other equities analysts have also commented on SRRK. Wedbush reiterated an “outperform” rating and issued a $23.00 target price on shares of Scholar Rock in a research note on Thursday. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Scholar Rock in a research note on Tuesday, June 25th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Scholar Rock presently has an average rating of “Buy” and a consensus target price of $26.43.
View Our Latest Report on Scholar Rock
Scholar Rock Price Performance
Scholar Rock (NASDAQ:SRRK – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same period in the previous year, the company earned ($0.47) earnings per share. As a group, equities research analysts anticipate that Scholar Rock will post -2.4 earnings per share for the current year.
Insiders Place Their Bets
In other Scholar Rock news, CFO Edward H. Myles sold 9,458 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $8.98, for a total transaction of $84,932.84. Following the completion of the sale, the chief financial officer now directly owns 201,518 shares in the company, valued at $1,809,631.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Edward H. Myles sold 9,458 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $8.98, for a total value of $84,932.84. Following the completion of the sale, the chief financial officer now owns 201,518 shares in the company, valued at $1,809,631.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Junlin Ho sold 4,695 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $8.98, for a total value of $42,161.10. Following the completion of the sale, the general counsel now owns 204,076 shares of the company’s stock, valued at approximately $1,832,602.48. The disclosure for this sale can be found here. Insiders sold 16,468 shares of company stock worth $147,883 over the last three months. 26.20% of the stock is owned by insiders.
Institutional Investors Weigh In On Scholar Rock
A number of large investors have recently modified their holdings of SRRK. Amalgamated Bank grew its stake in shares of Scholar Rock by 15.5% in the fourth quarter. Amalgamated Bank now owns 4,869 shares of the company’s stock valued at $92,000 after buying an additional 652 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Scholar Rock in the second quarter valued at about $98,000. DNB Asset Management AS boosted its holdings in Scholar Rock by 28.5% in the second quarter. DNB Asset Management AS now owns 19,812 shares of the company’s stock valued at $165,000 after purchasing an additional 4,390 shares during the last quarter. Spire Wealth Management purchased a new position in Scholar Rock in the fourth quarter valued at about $178,000. Finally, Walleye Trading LLC purchased a new position in Scholar Rock in the first quarter valued at about $178,000. Institutional investors and hedge funds own 91.08% of the company’s stock.
Scholar Rock Company Profile
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.
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