Scholar Rock (NASDAQ:SRRK) Price Target Raised to $38.00

Scholar Rock (NASDAQ:SRRK) had its price objective raised by BMO Capital Markets from $34.00 to $38.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. cut their target price on Scholar Rock from $20.00 to $18.00 and set an overweight rating on the stock in a research report on Thursday, October 3rd. HC Wainwright increased their target price on Scholar Rock from $30.00 to $35.00 and gave the stock a buy rating in a research report on Monday, October 7th. Finally, Wedbush increased their target price on Scholar Rock from $27.00 to $37.00 and gave the stock an outperform rating in a research report on Monday, October 7th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Scholar Rock currently has a consensus rating of Buy and a consensus target price of $29.88.

Scholar Rock Stock Up 7.6 %

NASDAQ SRRK opened at $28.52 on Friday. The stock has a market cap of $2.27 billion, a PE 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. The business has a 50 day moving average price of $11.11 and a two-hundred day moving average price of $11.18. The company has a quick ratio of 6.04, a current ratio of 6.04 and a debt-to-equity ratio of 0.36.

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

Insider Transactions at Scholar Rock

In other news, Director Srinivas Akkaraju sold 1,175,713 shares of the stock in a transaction 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 completion of the transaction, the director now owns 5,612,896 shares of the company’s stock, valued at approximately $164,177,208. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Edward H. Myles sold 206,240 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the completion of the transaction, the chief financial officer now owns 161,088 shares of the company’s stock, valued at $4,278,497.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the firm’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 transaction, the director now directly owns 5,612,896 shares of the company’s stock, valued at $164,177,208. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,415,340 shares of company stock valued at $40,666,088. 26.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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