Scholar Rock Holding Co. (NASDAQ:SRRK) Receives $25.17 Average Price Target from Brokerages

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have earned an average recommendation of “Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $25.17.

SRRK has been the subject of a number of research analyst reports. Truist Financial restated a “buy” rating and set a $20.00 price objective on shares of Scholar Rock in a research report on Wednesday, April 3rd. Raymond James started coverage on Scholar Rock in a research report on Thursday, March 28th. They set a “strong-buy” rating and a $30.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Scholar Rock in a report on Tuesday, March 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 price target on shares of Scholar Rock in a report on Tuesday, March 26th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $23.00 price target on shares of Scholar Rock in a report on Tuesday, January 23rd.

Scholar Rock Trading Down 4.7 %

NASDAQ:SRRK opened at $14.09 on Monday. Scholar Rock has a one year low of $5.56 and a one year high of $21.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.80 and a quick ratio of 8.80. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -7.08 and a beta of 0.90. The business has a fifty day moving average price of $15.39 and a 200-day moving average price of $14.46.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Tuesday, March 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). Sell-side analysts forecast that Scholar Rock will post -2.01 EPS for the current year.

Insider Activity at Scholar Rock

In other Scholar Rock news, General Counsel Junlin Ho sold 3,489 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $54,916.86. Following the completion of the sale, the general counsel now owns 208,771 shares of the company’s stock, valued at $3,286,055.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Scholar Rock news, General Counsel Junlin Ho sold 3,489 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $54,916.86. Following the completion of the sale, the general counsel now owns 208,771 shares of the company’s stock, valued at $3,286,055.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Edward H. Myles sold 4,744 shares of Scholar Rock stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $74,670.56. Following the sale, the chief financial officer now directly owns 210,976 shares of the company’s stock, valued at approximately $3,320,762.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,359 shares of company stock valued at $351,931. Insiders own 26.20% of the company’s stock.

Institutional Trading of Scholar Rock

Several institutional investors and hedge funds have recently modified their holdings of SRRK. Polar Capital Holdings Plc bought a new stake in shares of Scholar Rock during the third quarter valued at approximately $10,664,000. Price T Rowe Associates Inc. MD increased its holdings in Scholar Rock by 16.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock valued at $156,444,000 after buying an additional 1,149,519 shares during the period. Eventide Asset Management LLC purchased a new position in Scholar Rock during the fourth quarter valued at approximately $18,287,000. Goldman Sachs Group Inc. increased its holdings in Scholar Rock by 31.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,430,764 shares of the company’s stock valued at $26,898,000 after buying an additional 342,690 shares during the period. Finally, Redmile Group LLC increased its holdings in Scholar Rock by 7.5% during the third quarter. Redmile Group LLC now owns 4,733,248 shares of the company’s stock valued at $33,606,000 after buying an additional 329,408 shares during the period. Institutional investors own 91.08% of the company’s stock.

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.