Scholar Rock Holding Corporation (NASDAQ:SRRK – Get Free Report) has been given an average rating of “Buy” by the seventeen analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, twelve have assigned a buy recommendation and four have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $56.00.
Several research firms have commented on SRRK. Barclays lifted their target price on shares of Scholar Rock from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Scholar Rock in a research report on Thursday, June 18th. HC Wainwright boosted their price objective on Scholar Rock from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. raised their target price on Scholar Rock from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, March 16th.
Check Out Our Latest Research Report on SRRK
Scholar Rock Price Performance
Scholar Rock (NASDAQ:SRRK – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.01). During the same quarter in the prior year, the firm posted ($0.67) EPS. As a group, analysts forecast that Scholar Rock will post -3.23 EPS for the current fiscal year.
Insider Activity at Scholar Rock
In related news, CFO Vikas Sinha sold 10,410 shares of the firm’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $49.57, for a total transaction of $516,023.70. Following the completion of the sale, the chief financial officer owned 619,856 shares in the company, valued at approximately $30,726,261.92. This trade represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Keith Woods sold 10,220 shares of the business’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $49.57, for a total transaction of $506,605.40. Following the completion of the transaction, the chief operating officer owned 620,055 shares in the company, valued at approximately $30,736,126.35. The trade was a 1.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 80,640 shares of company stock valued at $4,070,357 in the last 90 days. 13.30% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Scholar Rock
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Redmile Group LLC grew its stake in Scholar Rock by 73.7% during the first quarter. Redmile Group LLC now owns 9,066,621 shares of the company’s stock valued at $445,715,000 after acquiring an additional 3,845,775 shares in the last quarter. Orbis Allan Gray Ltd increased its stake in Scholar Rock by 1,034.5% in the 4th quarter. Orbis Allan Gray Ltd now owns 3,428,929 shares of the company’s stock worth $151,044,000 after acquiring an additional 3,126,677 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Scholar Rock by 124.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,545,887 shares of the company’s stock valued at $169,289,000 after acquiring an additional 2,521,022 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Scholar Rock in the 3rd quarter valued at about $91,670,000. Finally, Norges Bank bought a new stake in shares of Scholar Rock during the 4th quarter valued at about $91,603,000. Institutional investors own 91.08% of the company’s stock.
Scholar Rock Company Profile
Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company’s research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock’s approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.
The company’s lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).
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