JPMorgan Chase & Co. Boosts Scholar Rock (NASDAQ:SRRK) Price Target to $31.00

Scholar Rock (NASDAQ:SRRK) had its price target increased by JPMorgan Chase & Co. from $18.00 to $31.00 in a research report sent to investors on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts also recently commented on the company. 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. BMO Capital Markets upped their price objective on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Finally, HC Wainwright raised 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. Seven 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.com, Scholar Rock currently has an average rating of “Buy” and an average target price of $31.63.

Scholar Rock Trading Up 1.6 %

SRRK stock opened at $29.00 on Monday. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -13.88 and a beta of 0.82. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.04 and a quick ratio of 6.04. Scholar Rock has a 1-year low of $6.48 and a 1-year high of $35.38. The business has a 50 day simple moving average of $11.93 and a two-hundred day simple moving average of $11.38.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share 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) EPS. Research analysts anticipate that Scholar Rock will post -2.38 EPS for the current fiscal year.

Insider Transactions at Scholar Rock

In related news, insider Tracey Sacco sold 30,000 shares of the stock in a transaction 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 in the company, valued at approximately $1,262,681.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Edward H. Myles sold 206,240 shares of Scholar Rock stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the completion of the transaction, the chief financial officer now directly owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tracey Sacco sold 30,000 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $25.62, for a total transaction of $768,600.00. Following the completion of the sale, 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. In 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 company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Jane Street Group LLC lifted its stake in shares of Scholar Rock by 95.5% during the 1st quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock worth $4,339,000 after acquiring an additional 119,363 shares during the last quarter. Clearbridge Investments LLC bought a new stake in shares of Scholar Rock during the second quarter worth $6,223,000. Kennedy Capital Management LLC purchased a new stake in shares of Scholar Rock during the first quarter valued at $4,900,000. Vanguard Group Inc. grew its holdings in shares of Scholar Rock by 4.0% in the first quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock worth $52,739,000 after purchasing an additional 114,550 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Scholar Rock in the 3rd quarter worth about $1,093,000. 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.