Scholar Rock Holding Corporation (NASDAQ:SRRK) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $42.67.

A number of equities research analysts have recently weighed in on SRRK shares. Wedbush restated an “outperform” rating and issued a $50.00 price objective on shares of Scholar Rock in a report on Wednesday, June 18th. Lifesci Capital upgraded shares of Scholar Rock to a “strong-buy” rating in a report on Tuesday, June 3rd.

Insider Buying and Selling at Scholar Rock

In related news, Director Michael Gilman sold 3,375 shares of the company’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total transaction of $100,305.00. Following the completion of the sale, the director now directly owns 55,216 shares in the company, valued at $1,641,019.52. This represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey S. Flier sold 6,075 shares of the company’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $29.73, for a total transaction of $180,609.75. Following the transaction, the director now directly owns 24,070 shares of the company’s stock, valued at approximately $715,601.10. This trade represents a 20.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,452 shares of company stock worth $1,991,465. 13.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers raised its holdings in Scholar Rock by 6.6% in the 1st quarter. Rhumbline Advisers now owns 120,752 shares of the company’s stock worth $3,882,000 after purchasing an additional 7,491 shares in the last quarter. Strs Ohio bought a new position in Scholar Rock in the first quarter worth about $77,000. Intech Investment Management LLC raised its stake in Scholar Rock by 60.9% in the first quarter. Intech Investment Management LLC now owns 56,784 shares of the company’s stock worth $1,826,000 after buying an additional 21,483 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Scholar Rock by 25.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 169,825 shares of the company’s stock worth $5,460,000 after buying an additional 34,594 shares in the last quarter. Finally, Exome Asset Management LLC raised its position in shares of Scholar Rock by 8.9% in the 1st quarter. Exome Asset Management LLC now owns 84,339 shares of the company’s stock worth $2,711,000 after acquiring an additional 6,900 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

Scholar Rock Trading Up 7.2%

Shares of SRRK stock opened at $35.81 on Friday. The company has a quick ratio of 10.25, a current ratio of 10.25 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $31.92 and a two-hundred day moving average price of $35.88. Scholar Rock has a 12-month low of $6.76 and a 12-month high of $46.98. The firm has a market cap of $3.40 billion, a P/E ratio of -14.15 and a beta of 0.28.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.04). During the same period in the previous year, the company earned ($0.59) earnings per share. Equities analysts anticipate that Scholar Rock will post -2.42 EPS for the current fiscal year.

About Scholar Rock

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.