Scholar Rock Holding Corporation (NASDAQ:SRRK) Receives Average Recommendation of “Buy” from Analysts

Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) have been assigned a consensus recommendation of “Buy” from the sixteen research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eleven have issued a buy recommendation and four have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $48.3333.

Several research analysts recently weighed in on the stock. 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 report on Wednesday, July 30th. Wolfe Research began coverage on Scholar Rock in a research note on Tuesday, November 18th. They set an “outperform” rating and a $42.00 price target on the stock. Truist Financial decreased their price target on Scholar Rock from $54.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, October 20th. Leerink Partnrs raised Scholar Rock to a “strong-buy” rating in a report on Monday, September 15th. Finally, Bank of America began coverage on shares of Scholar Rock in a research report on Thursday, October 9th. They set a “buy” rating and a $53.00 target price on the stock.

Insider Buying and Selling at Scholar Rock

In related news, Director Srinivas Akkaraju bought 113,025 shares of Scholar Rock stock in a transaction on Monday, October 6th. The shares were purchased at an average price of $38.65 per share, for a total transaction of $4,368,416.25. Following the completion of the acquisition, the director owned 500,439 shares in the company, valued at approximately $19,341,967.35. This represents a 29.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Katie Peng sold 1,006 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $32.53, for a total value of $32,725.18. Following the transaction, the director owned 33,914 shares of the company’s stock, valued at $1,103,222.42. The trade was a 2.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 7,537 shares of company stock worth $242,088. Insiders own 13.30% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds and other institutional investors have recently made changes to their positions in SRRK. Bank of New York Mellon Corp raised its position in shares of Scholar Rock by 4.2% during the first 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 during the period. Arizona State Retirement System grew its position in shares of Scholar Rock by 10.2% in the 1st quarter. Arizona State Retirement System now owns 18,767 shares of the company’s stock valued at $603,000 after purchasing an additional 1,734 shares during the period. New York State Common Retirement Fund increased its stake in Scholar Rock by 12.0% during the 1st quarter. New York State Common Retirement Fund now owns 25,286 shares of the company’s stock worth $813,000 after purchasing an additional 2,700 shares in the last quarter. CWM LLC raised its holdings in 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 during the period. Finally, Victory Capital Management Inc. lifted its stake in Scholar Rock by 508.6% in the first quarter. Victory Capital Management Inc. now owns 52,628 shares of the company’s stock valued at $1,692,000 after buying an additional 43,981 shares in the last quarter. 91.08% of the stock is owned by institutional investors.

Scholar Rock Stock Performance

Scholar Rock stock opened at $41.79 on Tuesday. The firm has a market capitalization of $4.26 billion, a P/E ratio of -14.36 and a beta of 0.79. The stock has a fifty day moving average price of $33.34 and a two-hundred day moving average price of $33.74. Scholar Rock has a 52-week low of $22.71 and a 52-week high of $46.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.33 and a quick ratio of 6.33.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.02). During the same quarter in the previous year, the business earned ($0.66) earnings per share. As a group, analysts anticipate that Scholar Rock will post -2.42 EPS for the current fiscal year.

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.