Wedbush reaffirmed their outperform rating on shares of Scholar Rock (NASDAQ:SRRK – Free Report) in a research note published on Monday, Marketbeat Ratings reports. Wedbush currently has a $64.00 target price on the stock.
A number of other analysts have also issued reports on SRRK. JPMorgan Chase & Co. raised their target price on shares of Scholar Rock from $56.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. HC Wainwright downgraded Scholar Rock from a “buy” rating to a “neutral” rating in a report on Tuesday, September 8th. Raymond James Financial increased their price target on Scholar Rock from $65.00 to $72.00 and gave the stock a “strong-buy” rating in a research note on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a report on Friday, July 17th. Finally, BMO Capital Markets lifted their price objective on Scholar Rock from $76.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, September 10th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.00.
Get Our Latest Analysis on SRRK
Scholar Rock Price Performance
Scholar Rock (NASDAQ:SRRK – Get Free Report) last released its quarterly earnings results 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 quarter last year, the firm earned ($0.98) EPS. Research analysts expect that Scholar Rock will post -3.23 EPS for the current year.
Insiders Place Their Bets
In related news, Director Michael Gilman sold 2,544 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $53.87, for a total value of $137,045.28. Following the sale, the director directly owned 59,511 shares of the company’s stock, valued at approximately $3,205,857.57. This trade represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kristina Burow sold 3,053 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total transaction of $164,068.22. Following the completion of the sale, the director owned 114,657 shares of the company’s stock, valued at approximately $6,161,667.18. The trade was a 2.59% decrease in their ownership of the stock. 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 valued at $923,108. 10.30% of the stock is currently owned by corporate insiders.
Institutional Trading of Scholar Rock
Several institutional investors have recently made changes to their positions in SRRK. GAMMA Investing LLC boosted its holdings in Scholar Rock by 20.8% in the second quarter. GAMMA Investing LLC now owns 1,406 shares of the company’s stock valued at $77,000 after purchasing an additional 242 shares during the last quarter. Values First Advisors Inc. increased its holdings in Scholar Rock by 1.5% during the 1st quarter. Values First Advisors Inc. now owns 18,850 shares of the company’s stock worth $927,000 after purchasing an additional 286 shares during the last quarter. IFP Advisors Inc increased its holdings in Scholar Rock by 294.1% during the 4th quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after purchasing an additional 450 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Scholar Rock by 151.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock valued at $38,000 after purchasing an additional 525 shares in the last quarter. Finally, Syon Capital LLC boosted its stake in shares of Scholar Rock by 6.4% during the 2nd quarter. Syon Capital LLC now owns 9,782 shares of the company’s stock valued at $538,000 after buying an additional 588 shares during the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.
About Scholar Rock
Scholar Rock, Inc is a biopharmaceutical company focused on developing medicines that selectively target growth factors in their latent forms. The company’s approach is designed to modulate the activation of growth factors in specific tissues, with the goal of addressing diseases in which these biological pathways contribute to impaired function or abnormal tissue growth.
Scholar Rock’s lead program is apitegromab, a monoclonal antibody designed to inhibit the activation of myostatin. The company has studied apitegromab as a potential treatment for spinal muscular atrophy, a genetic neuromuscular disorder that causes progressive muscle weakness and loss of motor function.
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