Scholar Rock (NASDAQ:SRRK) Stock Rating Upgraded by Wolfe Research

Scholar Rock (NASDAQ:SRRK) was upgraded by research analysts at Wolfe Research to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

SRRK has been the subject of a number of other research reports. Bank of America began coverage on shares of Scholar Rock in a report on Thursday, October 9th. They issued a “buy” rating and a $53.00 price objective for the company. Barclays boosted their price target on Scholar Rock from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday. Piper Sandler lowered their price objective on Scholar Rock from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 24th. JPMorgan Chase & Co. upped their target price on Scholar Rock from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $50.00 target price on shares of Scholar Rock in a report on Friday, November 14th. Four analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Scholar Rock presently has a consensus rating of “Buy” and a consensus price target of $48.33.

Scholar Rock Stock Performance

Shares of NASDAQ SRRK opened at $39.69 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.33 and a quick ratio of 6.33. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of -13.64 and a beta of 0.79. The stock’s fifty day moving average price is $32.88 and its two-hundred day moving average price is $33.52. Scholar Rock has a one year low of $22.71 and a one year high of $46.98.

Scholar Rock (NASDAQ:SRRK) last announced its earnings results on Friday, November 14th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.02). During the same quarter in the prior year, the company earned ($0.66) EPS. On average, equities analysts forecast that Scholar Rock will post -2.42 EPS for the current year.

Insiders Place Their Bets

In other Scholar Rock news, Director Katie Peng sold 1,006 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $32.53, for a total value of $32,725.18. Following the sale, the director 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mo Qatanani sold 3,353 shares of Scholar Rock stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $30.67, for a total value of $102,836.51. Following the completion of the transaction, the insider owned 108,964 shares in the company, valued at approximately $3,341,925.88. The trade was a 2.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,537 shares of company stock worth $242,088 over the last three months. Insiders own 13.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in Scholar Rock by 4.2% during the 1st quarter. Bank of New York Mellon Corp now owns 216,223 shares of the company’s stock worth $6,952,000 after purchasing an additional 8,731 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Scholar Rock by 12.0% during the first quarter. New York State Common Retirement Fund now owns 25,286 shares of the company’s stock worth $813,000 after buying an additional 2,700 shares during the last quarter. CWM LLC increased its holdings in shares of Scholar Rock by 152.8% during the first 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. Victory Capital Management Inc. lifted its stake in shares of Scholar Rock by 508.6% in the 1st quarter. Victory Capital Management Inc. now owns 52,628 shares of the company’s stock valued at $1,692,000 after acquiring an additional 43,981 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Scholar Rock in the 1st quarter valued at $513,000. 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.