BMO Capital Markets Increases Scholar Rock (NASDAQ:SRRK) Price Target to $38.00

Scholar Rock (NASDAQ:SRRK) had its price objective upped by research analysts at BMO Capital Markets from $34.00 to $38.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 43.34% from the company’s previous close.

SRRK has been the topic of several other reports. Wedbush lifted their price target on Scholar Rock from $27.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. dropped their price target on Scholar Rock from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, HC Wainwright lifted their price target on Scholar Rock from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Scholar Rock currently has an average rating of “Buy” and a consensus target price of $28.25.

Scholar Rock Stock Up 1.4 %

Shares of SRRK stock opened at $26.51 on Friday. The stock’s 50 day simple moving average is $10.71 and its 200 day simple moving average is $11.14. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.04 and a current ratio of 6.04. Scholar Rock has a twelve month low of $6.48 and a twelve month high of $35.38. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -11.94 and a beta of 0.82.

Scholar Rock (NASDAQ:SRRK) last issued 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 period in the prior year, the company earned ($0.47) earnings per share. As a group, research analysts predict that Scholar Rock will post -2.38 EPS for the current year.

Insider Transactions at Scholar Rock

In other news, insider Tracey Sacco sold 30,000 shares of Scholar Rock stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $25.62, for a total transaction of $768,600.00. Following the sale, the insider now owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Edward H. Myles sold 206,240 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 161,088 shares of the company’s stock, valued at $4,278,497.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tracey Sacco sold 30,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 49,285 shares in the company, valued at approximately $1,262,681.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,415,340 shares of company stock valued at $40,666,088. 19.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Scholar Rock

A number of institutional investors and hedge funds have recently bought and sold shares of the business. American International Group Inc. boosted its stake in Scholar Rock by 3.0% in the first quarter. American International Group Inc. now owns 28,407 shares of the company’s stock worth $505,000 after purchasing an additional 834 shares in the last quarter. Jennison Associates LLC raised its position in shares of Scholar Rock by 1.0% during the first quarter. Jennison Associates LLC now owns 138,458 shares of the company’s stock worth $2,459,000 after acquiring an additional 1,409 shares during the last quarter. Rice Hall James & Associates LLC raised its position in shares of Scholar Rock by 3.6% during the second quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company’s stock worth $383,000 after acquiring an additional 1,594 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Scholar Rock by 11.7% during the first quarter. ProShare Advisors LLC now owns 15,412 shares of the company’s stock worth $274,000 after acquiring an additional 1,620 shares during the last quarter. Finally, ClariVest Asset Management LLC raised its position in shares of Scholar Rock by 3.0% during the second quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company’s stock worth $497,000 after acquiring an additional 1,718 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

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.