Scholar Rock (NASDAQ:SRRK) Price Target Lowered to $18.00 at JPMorgan Chase & Co.

Scholar Rock (NASDAQ:SRRK) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $20.00 to $18.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 155.32% from the stock’s current price.

A number of other brokerages have also commented on SRRK. BMO Capital Markets increased their price target on Scholar Rock from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Scholar Rock in a research report on Tuesday, June 25th. Finally, Wedbush restated an “outperform” rating and issued a $23.00 price target on shares of Scholar Rock in a research report on Thursday, August 8th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Scholar Rock presently has an average rating of “Buy” and an average price target of $25.38.

Scholar Rock Price Performance

Shares of SRRK stock traded down $0.30 during mid-day trading on Thursday, hitting $7.05. The company had a trading volume of 419,221 shares, compared to its average volume of 821,191. 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’s 50 day moving average price is $8.81 and its 200-day moving average price is $10.79. Scholar Rock has a 52-week low of $6.30 and a 52-week high of $21.17. The company has a market capitalization of $562.27 million, a P/E ratio of -3.34 and a beta of 0.82.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.01. During the same quarter in the previous year, the firm posted ($0.47) earnings per share. Equities research analysts forecast that Scholar Rock will post -2.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd bought a new position in Scholar Rock during the 2nd quarter valued at about $103,000. Clearbridge Investments LLC purchased a new stake in shares of Scholar Rock in the second quarter worth approximately $6,223,000. Algert Global LLC lifted its stake in shares of Scholar Rock by 34.7% during the 2nd quarter. Algert Global LLC now owns 16,695 shares of the company’s stock worth $139,000 after acquiring an additional 4,305 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Scholar Rock by 30.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 222,800 shares of the company’s stock valued at $1,856,000 after acquiring an additional 52,329 shares during the period. Finally, Millennium Management LLC grew its position in Scholar Rock by 159.2% in the 2nd quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock valued at $7,710,000 after acquiring an additional 568,512 shares during the last quarter. Institutional investors 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.