Piper Sandler Increases Scholar Rock (NASDAQ:SRRK) Price Target to $42.00

Scholar Rock (NASDAQ:SRRK) had its price target lifted by equities research analysts at Piper Sandler from $28.00 to $42.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 47.27% from the company’s current price.

Several other research firms have also recently weighed in on SRRK. Wedbush raised their target price on shares of Scholar Rock from $27.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. HC Wainwright lifted their price objective on shares of Scholar Rock from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, October 7th. BMO Capital Markets upped their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday. Finally, JPMorgan Chase & Co. lifted their price target on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $31.63.

Scholar Rock Price Performance

Shares of NASDAQ SRRK opened at $28.52 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.04 and a quick ratio of 6.04. The business has a 50-day moving average of $11.11 and a 200-day moving average of $11.18. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -13.65 and a beta of 0.82. Scholar Rock has a fifty-two week low of $6.48 and a fifty-two week high of $35.38.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same period last year, the firm earned ($0.47) EPS. As a group, sell-side analysts predict that Scholar Rock will post -2.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Scholar Rock news, insider Tracey Sacco sold 30,000 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $25.62, for a total value of $768,600.00. Following the transaction, the insider now directly owns 49,285 shares of the company’s stock, valued at $1,262,681.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Srinivas Akkaraju sold 1,175,713 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $29.25, for a total value of $34,389,605.25. Following the completion of the sale, the director now owns 5,612,896 shares of the company’s stock, valued at approximately $164,177,208. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tracey Sacco sold 30,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $25.62, for a total transaction of $768,600.00. Following the transaction, the insider now directly owns 49,285 shares in the company, valued at approximately $1,262,681.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,415,340 shares of company stock valued at $40,666,088. Company insiders own 26.20% of the company’s stock.

Institutional Trading of Scholar Rock

A number of institutional investors have recently bought and sold shares of SRRK. Jane Street Group LLC lifted its position in shares of Scholar Rock by 95.5% during the 1st quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock valued at $4,339,000 after acquiring an additional 119,363 shares during the period. Clearbridge Investments LLC bought a new stake in Scholar Rock during the second quarter worth about $6,223,000. Kennedy Capital Management LLC bought a new stake in Scholar Rock during the first quarter worth about $4,900,000. Vanguard Group Inc. grew its stake in Scholar Rock by 4.0% during the first quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock worth $52,739,000 after buying an additional 114,550 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Scholar Rock in the 3rd quarter valued at about $1,093,000. 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.