Scholar Rock (NASDAQ:SRRK) Given New $40.00 Price Target at HC Wainwright

Scholar Rock (NASDAQ:SRRK) had its price target boosted by HC Wainwright from $35.00 to $40.00 in a report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Scholar Rock’s Q4 2024 earnings at ($0.67) EPS, FY2024 earnings at ($2.54) EPS, Q1 2025 earnings at ($0.67) EPS, Q2 2025 earnings at ($0.68) EPS, Q3 2025 earnings at ($0.68) EPS, Q4 2025 earnings at ($0.62) EPS, FY2025 earnings at ($2.65) EPS, FY2026 earnings at ($1.68) EPS, FY2027 earnings at ($1.00) EPS and FY2028 earnings at ($0.10) EPS.

Several other brokerages have also weighed in on SRRK. JPMorgan Chase & Co. increased their price objective on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. BMO Capital Markets lifted their price objective on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Wedbush reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Scholar Rock in a report on Monday, November 4th. Finally, Piper Sandler lifted their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Scholar Rock currently has an average rating of “Buy” and an average price target of $34.00.

Scholar Rock Stock Down 3.7 %

Scholar Rock stock opened at $26.49 on Tuesday. The firm has a 50 day moving average price of $20.61 and a 200-day moving average price of $13.61. The company has a quick ratio of 6.04, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock has a twelve month low of $6.76 and a twelve month high of $35.38. The company has a market capitalization of $2.48 billion, a P/E ratio of -11.27 and a beta of 0.47.

Insider Buying and Selling at Scholar Rock

In related news, insider Tracey Sacco sold 30,000 shares of Scholar Rock stock in a transaction on Monday, October 7th. The stock was sold at an average price of $25.62, for a total transaction of $768,600.00. Following the completion of the sale, the insider now owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. This trade represents a 37.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $29.25, for a total value of $34,389,605.25. Following the completion of the transaction, the director now owns 5,612,896 shares in the company, valued at $164,177,208. This represents a 17.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,413,889 shares of company stock valued at $40,652,551 in the last quarter. 19.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its stake in Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after purchasing an additional 514 shares in the last quarter. Quarry LP lifted its holdings in shares of Scholar Rock by 3,443.3% during the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after acquiring an additional 4,373 shares during the last quarter. Walleye Trading LLC bought a new stake in shares of Scholar Rock during the 1st quarter worth $178,000. Principal Financial Group Inc. bought a new stake in shares of Scholar Rock during the 2nd quarter worth $98,000. Finally, Hsbc Holdings PLC bought a new position in Scholar Rock in the second quarter valued at $100,000. Hedge funds and other 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.