Scholar Rock (NASDAQ:SRRK – Get Free Report) 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.
Read Our Latest Stock Report on Scholar Rock
Scholar Rock Price Performance
Scholar Rock (NASDAQ:SRRK – Get Free Report) 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.
See Also
- Five stocks we like better than Scholar Rock
- The Role Economic Reports Play in a Successful Investment Strategy
- Is NVIDIA Stock in a Correction or Consolidation?
- What is a Stock Market Index and How Do You Use Them?
- 3 Oversold Stocks with Big RSI Rebound Potential
- What Are the FAANG Stocks and Are They Good Investments?
- Joby Aviation Soars With Toyota Investment and Analyst Support
Receive News & Ratings for Scholar Rock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scholar Rock and related companies with MarketBeat.com's FREE daily email newsletter.