Scholar Rock (NASDAQ:SRRK) Given Outperform Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a report published on Monday, RTT News reports. They currently have a $37.00 price objective on the stock.

A number of other equities analysts have also weighed in on SRRK. HC Wainwright increased their target price on Scholar Rock from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. increased their price target on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Piper Sandler raised their target price on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets raised their target price on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $33.29.

Scholar Rock Stock Down 2.6 %

NASDAQ:SRRK opened at $27.67 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.04 and a quick ratio of 6.04. The stock has a 50-day moving average price of $16.80 and a two-hundred day moving average price of $12.63. Scholar Rock has a 1 year low of $6.76 and a 1 year high of $35.38.

Scholar Rock (NASDAQ:SRRK) last released 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 prior year, the business posted ($0.47) earnings per share. As a group, sell-side analysts expect that Scholar Rock will post -2.37 EPS for the current year.

Insider Transactions at Scholar Rock

In other news, insider Tracey Sacco sold 30,000 shares of Scholar Rock stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the completion of the transaction, the insider now directly owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Edward H. Myles sold 206,240 shares of Scholar Rock 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 directly owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tracey Sacco sold 30,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $25.62, for a total value of $768,600.00. Following the completion of the sale, the insider now owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,415,340 shares of company stock valued at $40,666,088. Corporate insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

Large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Scholar Rock by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after buying an additional 514 shares during the period. Walleye Trading LLC acquired a new position in Scholar Rock during the 1st quarter valued at about $178,000. Principal Financial Group Inc. acquired a new position in Scholar Rock during the 2nd quarter valued at about $98,000. Hsbc Holdings PLC acquired a new position in Scholar Rock during the 2nd quarter valued at about $100,000. Finally, Point72 DIFC Ltd acquired a new position in Scholar Rock during the 2nd quarter valued at about $103,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.