Scholar Rock (NASDAQ:SRRK) Price Target Raised to $40.00

Scholar Rock (NASDAQ:SRRK) had its price target lifted by HC Wainwright from $35.00 to $40.00 in a report issued on Tuesday,Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Scholar Rock’s Q4 2024 earnings at ($0.67) EPS, FY2024 earnings at ($2.54) EPS, Q1 2025 earnings at ($0.67) EPS, Q2 2025 earnings at ($0.68) EPS, Q3 2025 earnings at ($0.68) EPS, Q4 2025 earnings at ($0.62) EPS, FY2025 earnings at ($2.65) EPS, FY2026 earnings at ($1.68) EPS, FY2027 earnings at ($1.00) EPS and FY2028 earnings at ($0.10) EPS.

A number of other analysts also recently issued reports on the company. Piper Sandler raised their target price on Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Wedbush reissued an “outperform” rating and issued a $37.00 target price on shares of Scholar Rock in a research report on Monday, November 4th. JPMorgan Chase & Co. raised their price target on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, BMO Capital Markets raised their price target on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $34.00.

Scholar Rock Stock Performance

Shares of SRRK opened at $27.50 on Tuesday. The company has a current ratio of 3.88, a quick ratio of 6.04 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -11.70 and a beta of 0.47. The stock has a 50 day moving average of $20.24 and a 200 day moving average of $13.53. Scholar Rock has a 12 month low of $6.76 and a 12 month high of $35.38.

Insider Activity at Scholar Rock

In other Scholar Rock news, CFO Edward H. Myles sold 206,240 shares of Scholar Rock 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 sale, the chief financial officer now owns 161,088 shares of the company’s stock, valued at $4,278,497.28. The trade was a 56.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Srinivas Akkaraju sold 1,175,713 shares of Scholar Rock stock in a transaction dated 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 sale, the director now directly owns 5,612,896 shares of the company’s stock, valued at approximately $164,177,208. This trade represents a 17.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,413,889 shares of company stock valued at $40,652,551. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds have recently added to or reduced their stakes in SRRK. Clearbridge Investments LLC bought a new stake in Scholar Rock during the second quarter worth about $6,223,000. Candriam S.C.A. bought a new stake in Scholar Rock during the second quarter worth about $6,201,000. Fisher Asset Management LLC increased its holdings in shares of Scholar Rock by 593.6% in the third quarter. Fisher Asset Management LLC now owns 734,019 shares of the company’s stock worth $5,879,000 after buying an additional 628,186 shares during the period. Millennium Management LLC increased its holdings in shares of Scholar Rock by 159.2% in the second quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock worth $7,710,000 after buying an additional 568,512 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of Scholar Rock by 1,051.3% in the second quarter. Marshall Wace LLP now owns 487,285 shares of the company’s stock worth $4,059,000 after buying an additional 444,961 shares during the period. 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.