Scholar Rock (NASDAQ:SRRK) Earns “Outperform” Rating from Wedbush

Wedbush reaffirmed 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 target price on the stock.

SRRK has been the topic of several other reports. Piper Sandler boosted their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. BMO Capital Markets boosted their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. HC Wainwright boosted their target price on shares of Scholar Rock from $30.00 to $35.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $33.29.

Scholar Rock Stock Performance

SRRK opened at $28.95 on Monday. The firm has a market capitalization of $2.32 billion, a PE ratio of -13.04 and a beta of 0.47. Scholar Rock has a twelve month low of $6.76 and a twelve month high of $35.38. The firm’s 50-day moving average price is $18.37 and its 200 day moving average price is $13.06. 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 (NASDAQ:SRRK) last posted its earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same quarter last year, the business earned ($0.47) earnings per share. As a group, sell-side analysts expect that Scholar Rock will post -2.37 EPS for the current fiscal year.

Insider Activity

In other news, 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 sale, the insider now directly owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Tracey Sacco sold 30,000 shares of the company’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 transaction of $768,600.00. Following the sale, the insider now directly owns 49,285 shares of the company’s stock, valued at $1,262,681.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the sale, the director now directly owns 5,612,896 shares in the company, valued at approximately $164,177,208. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,415,340 shares of company stock valued at $40,666,088. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Several large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Scholar Rock by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after buying an additional 514 shares during the period. American International Group Inc. increased its position in shares of Scholar Rock by 3.0% in the 1st quarter. American International Group Inc. now owns 28,407 shares of the company’s stock valued at $505,000 after purchasing an additional 834 shares during the last quarter. Jennison Associates LLC increased its position in shares of Scholar Rock by 1.0% in the 1st quarter. Jennison Associates LLC now owns 138,458 shares of the company’s stock valued at $2,459,000 after purchasing an additional 1,409 shares during the last quarter. Rice Hall James & Associates LLC increased its position in shares of Scholar Rock by 3.6% in the 2nd quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company’s stock valued at $383,000 after purchasing an additional 1,594 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Scholar Rock by 11.7% in the 1st quarter. ProShare Advisors LLC now owns 15,412 shares of the company’s stock valued at $274,000 after purchasing an additional 1,620 shares during the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

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.