Scholar Rock Holding Corporation (NASDAQ:SRRK) Receives $49.10 Consensus Price Target from Brokerages

Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) have received a consensus rating of “Buy” from the sixteen ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $48.3333.

SRRK has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of Scholar Rock in a report on Thursday, August 21st. They set a “buy” rating and a $50.00 price objective for the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Scholar Rock in a research report on Friday, November 14th. JPMorgan Chase & Co. lifted their price target on Scholar Rock from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday. Raymond James Financial set a $53.00 price objective on Scholar Rock and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Finally, HC Wainwright lowered their price objective on Scholar Rock from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, September 23rd.

Scholar Rock Price Performance

Shares of NASDAQ:SRRK opened at $38.02 on Tuesday. Scholar Rock has a twelve month low of $22.71 and a twelve month high of $46.98. The stock’s 50 day moving average is $33.00 and its 200-day moving average is $33.55. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of -13.07 and a beta of 0.79.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.02). During the same quarter last year, the business earned ($0.66) EPS. Sell-side analysts forecast that Scholar Rock will post -2.42 EPS for the current fiscal year.

Insider Activity at Scholar Rock

In other Scholar Rock news, Director Katie Peng sold 1,006 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $32.53, for a total transaction of $32,725.18. Following the transaction, the director directly owned 33,914 shares in the company, valued at approximately $1,103,222.42. This trade represents a 2.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Srinivas Akkaraju bought 113,025 shares of Scholar Rock stock in a transaction dated Monday, October 6th. The stock was purchased at an average price of $38.65 per share, with a total value of $4,368,416.25. Following the purchase, the director owned 500,439 shares in the company, valued at approximately $19,341,967.35. This represents a 29.17% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 7,537 shares of company stock valued at $242,088. 13.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Scholar Rock

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Scholar Rock in the 3rd quarter worth approximately $209,000. RA Capital Management L.P. increased its position in shares of Scholar Rock by 2.7% during the third quarter. RA Capital Management L.P. now owns 1,166,788 shares of the company’s stock valued at $43,451,000 after acquiring an additional 30,335 shares during the last quarter. Paradigm Biocapital Advisors LP lifted its holdings in Scholar Rock by 25.6% during the third quarter. Paradigm Biocapital Advisors LP now owns 2,009,745 shares of the company’s stock worth $74,843,000 after acquiring an additional 409,191 shares during the period. Mariner LLC purchased a new position in Scholar Rock in the third quarter worth $372,000. Finally, Lighthouse Investment Partners LLC purchased a new position in Scholar Rock in the third quarter worth $2,756,000. 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.