Scholar Rock Holding Co. (NASDAQ:SRRK) Receives $40.43 Consensus PT from Brokerages

Scholar Rock Holding Co. (NASDAQ:SRRK) has earned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $40.43.

A number of equities research analysts recently weighed in on the company. Wedbush upped their price objective on Scholar Rock from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. BMO Capital Markets increased their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. boosted their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Piper Sandler raised their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, Truist Financial upped their price target on Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th.

Insider Transactions at Scholar Rock

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the sale, the insider now directly owns 10,850,005 shares of the company’s stock, valued at approximately $417,616,692.45. This trade represents a 3.64 % 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. Also, insider Tracey Sacco sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was 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 of the company’s stock, valued at approximately $1,262,681.70. The trade was a 37.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,821,386 shares of company stock worth $56,395,016 over the last quarter. 19.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Scholar Rock

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in shares of Scholar Rock by 3.1% during the third quarter. FMR LLC now owns 10,196,046 shares of the company’s stock valued at $81,670,000 after acquiring an additional 308,813 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Scholar Rock by 8.5% during the third quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock worth $12,361,000 after purchasing an additional 120,489 shares in the last quarter. Millennium Management LLC raised its stake 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 purchasing an additional 568,512 shares during the last quarter. Hood River Capital Management LLC lifted its holdings in Scholar Rock by 5.1% in the 2nd quarter. Hood River Capital Management LLC now owns 832,792 shares of the company’s stock valued at $6,937,000 after purchasing an additional 40,745 shares in the last quarter. Finally, abrdn plc boosted its stake in Scholar Rock by 28.2% during the 3rd quarter. abrdn plc now owns 748,489 shares of the company’s stock worth $5,995,000 after purchasing an additional 164,715 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Trading Down 3.5 %

NASDAQ:SRRK opened at $42.91 on Friday. The firm has a 50-day simple moving average of $35.25 and a 200-day simple moving average of $19.46. Scholar Rock has a one year low of $6.76 and a one year high of $46.19. The firm has a market cap of $4.02 billion, a P/E ratio of -18.26 and a beta of 0.58. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88.

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.