Scholar Rock (NASDAQ:SRRK) Given “Outperform” Rating at Wedbush

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a note issued to investors on Thursday,RTT News reports. They currently have a $47.00 target price on the stock. Wedbush’s target price indicates a potential upside of 16.08% from the stock’s previous close.

SRRK has been the topic of several other research reports. Truist Financial boosted their target price on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Piper Sandler increased their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. BMO Capital Markets lifted their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. HC Wainwright increased their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. lifted their target price on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $40.43.

Scholar Rock Price Performance

SRRK stock opened at $40.49 on Thursday. The stock has a market cap of $3.79 billion, a PE ratio of -17.23 and a beta of 0.52. The stock has a 50-day moving average price of $37.61 and a two-hundred day moving average price of $21.43. Scholar Rock has a 1 year low of $6.76 and a 1 year high of $46.19. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63.

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 on Monday, November 25th. The stock was sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the completion of the sale, the insider now owns 10,850,005 shares of the company’s stock, valued at $417,616,692.45. This trade represents a 3.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently modified their holdings of SRRK. GAMMA Investing LLC lifted its stake in shares of Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after buying an additional 269 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Scholar Rock by 1.0% during the third quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock worth $310,000 after acquiring an additional 379 shares during the last quarter. Exome Asset Management LLC bought a new stake in shares of Scholar Rock during the third quarter worth approximately $1,115,000. Barclays PLC increased its stake in shares of Scholar Rock by 103.4% during the third quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after purchasing an additional 84,118 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Scholar Rock by 8.5% during the 3rd 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 during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.