Scholar Rock (NASDAQ:SRRK – Get Free Report) had its price target boosted by analysts at JPMorgan Chase & Co. from $56.00 to $63.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 15.85% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a report on Friday, July 17th. BMO Capital Markets restated an “outperform” rating and set a $76.00 price target on shares of Scholar Rock in a research note on Friday, August 7th. Citigroup increased their target price on shares of Scholar Rock from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 7th. HC Wainwright reissued a “buy” rating and set a $65.00 target price on shares of Scholar Rock in a research report on Monday. Finally, Canaccord Genuity Group assumed coverage on shares of Scholar Rock in a report on Monday, April 20th. They issued a “buy” rating and a $62.00 price target for the company. Four analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $57.71.
Read Our Latest Stock Analysis on Scholar Rock
Scholar Rock Trading Up 1.0%
Scholar Rock (NASDAQ:SRRK – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.84). During the same period in the prior year, the firm posted ($0.98) earnings per share. Equities research analysts predict that Scholar Rock will post -3.26 EPS for the current year.
Insiders Place Their Bets
In related news, Director Kristina Burow sold 3,053 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $53.74, for a total transaction of $164,068.22. Following the completion of the sale, the director directly owned 114,657 shares in the company, valued at $6,161,667.18. This represents a 2.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Katie Peng sold 5,446 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $53.88, for a total value of $293,430.48. Following the sale, the director directly owned 34,301 shares in the company, valued at approximately $1,848,137.88. The trade was a 13.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 17,149 shares of company stock worth $923,108. Insiders own 10.30% of the company’s stock.
Institutional Trading of Scholar Rock
A number of institutional investors have recently modified their holdings of the company. Allworth Financial LP purchased a new position in shares of Scholar Rock in the 2nd quarter worth approximately $35,000. E Fund Management Co. Ltd. acquired a new stake in Scholar Rock in the second quarter valued at approximately $509,000. Eagle Health Investments LP acquired a new stake in Scholar Rock in the second quarter valued at approximately $30,540,000. BlackRock Inc. purchased a new position in Scholar Rock in the second quarter worth $522,175,000. Finally, Deutsche Bank AG acquired a new position in shares of Scholar Rock during the second quarter worth $16,680,000. 91.08% of the stock is currently owned by institutional investors.
About Scholar Rock
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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