Scholar Rock Holding Co. (NASDAQ:SRRK) Given Average Recommendation of “Buy” by Analysts

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have been assigned an average rating of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $28.25.

A number of brokerages have recently issued reports on SRRK. Wedbush raised their price objective on Scholar Rock from $27.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. HC Wainwright raised their price objective on Scholar Rock from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. reduced their price objective on Scholar Rock from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, BMO Capital Markets raised their price objective on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday.

Insider Buying and Selling

In other Scholar Rock news, CFO Edward H. Myles sold 206,240 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $26.56, for a total value of $5,477,734.40. Following the completion of the sale, the chief financial officer now directly owns 161,088 shares in the company, valued at $4,278,497.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Scholar Rock news, Director Srinivas Akkaraju sold 1,175,713 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $29.25, for a total value of $34,389,605.25. Following the completion of the sale, the director now directly owns 5,612,896 shares in the company, valued at $164,177,208. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Edward H. Myles sold 206,240 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the completion of the sale, the chief financial officer now owns 161,088 shares of the company’s stock, valued at $4,278,497.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,415,340 shares of company stock valued at $40,666,088 over the last ninety days. 26.20% of the stock is owned by insiders.

Institutional Trading of Scholar Rock

Several institutional investors and hedge funds have recently bought and sold shares of SRRK. Clearbridge Investments LLC purchased a new stake in Scholar Rock in the second quarter worth about $6,223,000. Candriam S.C.A. purchased a new position in shares of Scholar Rock during the second quarter valued at approximately $6,201,000. Millennium Management LLC lifted its holdings in shares of Scholar Rock by 159.2% during the second quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock valued at $7,710,000 after purchasing an additional 568,512 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Scholar Rock by 1,051.3% during the second quarter. Marshall Wace LLP now owns 487,285 shares of the company’s stock valued at $4,059,000 after purchasing an additional 444,961 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Scholar Rock by 31.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,430,764 shares of the company’s stock valued at $26,898,000 after purchasing an additional 342,690 shares during the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Scholar Rock Stock Up 1.4 %

SRRK opened at $26.51 on Monday. The stock has a market cap of $2.11 billion, a PE ratio of -12.68 and a beta of 0.82. The company has a quick ratio of 6.04, a current ratio of 6.04 and a debt-to-equity ratio of 0.36. Scholar Rock has a 52 week low of $6.48 and a 52 week high of $35.38. The business’s fifty day simple moving average is $10.71 and its 200 day simple moving average is $11.11.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.01. During the same period in the prior year, the firm posted ($0.47) earnings per share. As a group, research analysts expect that Scholar Rock will post -2.38 earnings per share for the current fiscal year.

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.