Scholar Rock (NASDAQ:SRRK) Price Target Raised to $45.00

Scholar Rock (NASDAQ:SRRK) had its target price lifted by Barclays from $44.00 to $45.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

SRRK has been the subject of a number of other reports. Leerink Partners began coverage on Scholar Rock in a research report on Monday, September 15th. They issued an “outperform” rating and a $51.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Scholar Rock in a research note on Wednesday, October 8th. Truist Financial lowered their target price on shares of Scholar Rock from $54.00 to $44.00 and set a “buy” rating for the company in a report on Monday, October 20th. BMO Capital Markets reissued an “outperform” rating and issued a $50.00 price objective on shares of Scholar Rock in a research report on Friday, November 14th. Finally, Raymond James Financial set a $53.00 price objective on shares of Scholar Rock and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Scholar Rock currently has a consensus rating of “Buy” and an average target price of $48.33.

Scholar Rock Trading Down 0.3%

SRRK opened at $39.69 on Monday. The stock has a 50-day moving average of $32.88 and a 200 day moving average of $33.52. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.21. Scholar Rock has a 12 month low of $22.71 and a 12 month high of $46.98. The firm has a market cap of $3.82 billion, a P/E ratio of -13.64 and a beta of 0.79.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.02). During the same quarter last year, the company earned ($0.66) earnings per share. As a group, research analysts forecast that Scholar Rock will post -2.42 EPS for the current year.

Insider Activity at Scholar Rock

In other news, Director Katie Peng sold 1,006 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $32.53, for a total transaction of $32,725.18. Following the transaction, the director directly owned 33,914 shares of the company’s stock, valued at approximately $1,103,222.42. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Srinivas Akkaraju purchased 113,025 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were bought at an average cost of $38.65 per share, with a total value of $4,368,416.25. Following the purchase, the director directly owned 500,439 shares of the company’s stock, valued at approximately $19,341,967.35. This represents a 29.17% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 7,537 shares of company stock worth $242,088 in the last 90 days. 13.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. CWM LLC grew its position in shares of Scholar Rock by 152.8% during the 1st quarter. CWM LLC now owns 996 shares of the company’s stock worth $32,000 after buying an additional 602 shares in the last quarter. Ramirez Asset Management Inc. purchased a new stake in Scholar Rock in the third quarter worth about $37,000. Penserra Capital Management LLC purchased a new stake in Scholar Rock in the third quarter worth about $56,000. Federated Hermes Inc. bought a new position in Scholar Rock during the 1st quarter worth about $71,000. Finally, Strs Ohio purchased a new position in Scholar Rock during the 1st quarter valued at about $77,000. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

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.