Scholar Rock (NASDAQ:SRRK) PT Raised to $42.00

Scholar Rock (NASDAQ:SRRK) had its target price upped by Piper Sandler from $28.00 to $42.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 44.83% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets lifted their price target on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Wedbush boosted their target price on Scholar Rock from $27.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. HC Wainwright increased their price target on shares of Scholar Rock from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday. Seven equities 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 stock currently has an average rating of “Buy” and a consensus target price of $31.63.

Scholar Rock Stock Up 1.6 %

SRRK stock opened at $29.00 on Tuesday. The company’s 50 day moving average is $11.93 and its 200 day moving average is $11.38. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -13.88 and a beta of 0.82. The company has a current ratio of 6.04, a quick ratio of 6.04 and a debt-to-equity ratio of 0.36. Scholar Rock has a 1-year low of $6.48 and a 1-year high of $35.38.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.01. During the same quarter in the prior year, the business posted ($0.47) earnings per share. Sell-side analysts predict that Scholar Rock will post -2.38 EPS for the current fiscal year.

Insider Buying and Selling at Scholar Rock

In other news, insider Tracey Sacco sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $25.62, for a total value of $768,600.00. Following the transaction, the insider now owns 49,285 shares in the company, valued at approximately $1,262,681.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Scholar Rock news, CFO Edward H. Myles sold 206,240 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 161,088 shares in the company, valued at approximately $4,278,497.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Tracey Sacco sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $25.62, for a total value of $768,600.00. Following the transaction, the insider now directly owns 49,285 shares in the company, valued at $1,262,681.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,415,340 shares of company stock worth $40,666,088. 26.20% of the stock is currently owned by insiders.

Institutional Trading of Scholar Rock

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning bought a new position in Scholar Rock in the 3rd quarter worth $115,000. Exchange Traded Concepts LLC increased its position in shares of Scholar Rock by 74.6% during the third quarter. Exchange Traded Concepts LLC now owns 101,679 shares of the company’s stock valued at $814,000 after buying an additional 43,457 shares during the period. SG Americas Securities LLC bought a new position in Scholar Rock in the third quarter worth about $1,093,000. Point72 DIFC Ltd purchased a new stake in Scholar Rock in the second quarter worth about $103,000. Finally, Clearbridge Investments LLC bought a new stake in Scholar Rock during the 2nd quarter valued at approximately $6,223,000. Hedge funds and other 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.