Scholar Rock’s (SRRK) Outperform Rating Reiterated at Wedbush

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a research note issued on Monday, RTT News reports. They currently have a $37.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 33.72% from the stock’s previous close.

Several other brokerages have also issued reports on SRRK. BMO Capital Markets boosted their price target on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Piper Sandler boosted their price target on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. HC Wainwright boosted their price target on Scholar Rock from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. boosted their price target on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Scholar Rock has a consensus rating of “Buy” and a consensus target price of $33.29.

Scholar Rock Stock Performance

Shares of Scholar Rock stock traded down $0.75 during trading on Monday, reaching $27.67. The company’s stock had a trading volume of 1,002,166 shares, compared to its average volume of 1,142,975. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.04 and a current ratio of 6.04. The business’s fifty day moving average price is $16.80 and its 200-day moving average price is $12.63. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -12.46 and a beta of 0.46. Scholar Rock has a one year low of $6.76 and a one year high of $35.38.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.01. During the same period in the prior year, the business earned ($0.47) earnings per share. As a group, equities research analysts predict that Scholar Rock will post -2.37 earnings per share for the current year.

Insider Buying and Selling at Scholar Rock

In other news, Director Srinivas Akkaraju sold 1,175,713 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 5,612,896 shares of the company’s stock, valued at $164,177,208. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Srinivas Akkaraju sold 1,175,713 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 5,612,896 shares of the company’s stock, valued at $164,177,208. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tracey Sacco sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the completion of the transaction, the insider now directly owns 49,285 shares in the company, valued at $1,262,681.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,415,340 shares of company stock valued at $40,666,088. 19.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SRRK. Rice Hall James & Associates LLC raised its position in shares of Scholar Rock by 23.4% during the 3rd quarter. Rice Hall James & Associates LLC now owns 56,761 shares of the company’s stock valued at $455,000 after acquiring an additional 10,761 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Scholar Rock by 64.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 15,393 shares of the company’s stock valued at $123,000 after acquiring an additional 6,023 shares during the last quarter. abrdn plc raised its position in shares of Scholar Rock by 28.2% during the 3rd quarter. abrdn plc now owns 748,489 shares of the company’s stock valued at $5,995,000 after acquiring an additional 164,715 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Scholar Rock by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after acquiring an additional 514 shares during the last quarter. Finally, E. Ohman J or Asset Management AB raised its position in shares of Scholar Rock by 32.6% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 122,000 shares of the company’s stock valued at $977,000 after acquiring an additional 30,000 shares during the last quarter. 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.