Scholar Rock (NASDAQ:SRRK) Now Covered by Analysts at Barclays

Barclays started coverage on shares of Scholar Rock (NASDAQ:SRRK) in a report issued on Wednesday, Marketbeat reports. The firm issued an overweight rating and a $45.00 price target on the stock.

SRRK has been the topic of several other research reports. Jefferies Financial Group started coverage on shares of Scholar Rock in a research report on Thursday, August 21st. They set a “buy” rating and a $50.00 price target on the stock. Wedbush restated an “outperform” rating and issued a $50.00 price objective on shares of Scholar Rock in a report on Wednesday, June 18th. Cantor Fitzgerald initiated coverage on shares of Scholar Rock in a report on Thursday, July 17th. They issued an “overweight” rating on the stock. Raymond James Financial set a $53.00 price objective on shares of Scholar Rock and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Finally, Leerink Partners initiated coverage on shares of Scholar Rock in a report on Monday. They issued an “outperform” rating and a $51.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $46.20.

Scholar Rock Price Performance

Shares of NASDAQ SRRK opened at $31.95 on Wednesday. Scholar Rock has a 1 year low of $6.76 and a 1 year high of $46.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.33 and a quick ratio of 6.33. The company’s 50-day moving average is $34.94 and its 200 day moving average is $33.18. The stock has a market capitalization of $3.07 billion, a P/E ratio of -10.98 and a beta of 0.36.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same quarter in the prior year, the firm posted ($0.60) EPS. On average, sell-side analysts expect that Scholar Rock will post -2.42 earnings per share for the current year.

Insider Activity

In related news, insider Mo Qatanani sold 3,178 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $33.52, for a total transaction of $106,526.56. Following the transaction, the insider owned 112,317 shares in the company, valued at $3,764,865.84. This represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey S. Flier sold 11,136 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $40.02, for a total transaction of $445,662.72. Following the transaction, the director owned 24,070 shares in the company, valued at approximately $963,281.40. This trade represents a 31.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,838 shares of company stock worth $2,438,562 over the last 90 days. 13.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its position in Scholar Rock by 152.8% during the first quarter. CWM LLC now owns 996 shares of the company’s stock valued at $32,000 after purchasing an additional 602 shares during the period. Federated Hermes Inc. bought a new position in Scholar Rock during the first quarter valued at approximately $71,000. GF Fund Management CO. LTD. lifted its position in Scholar Rock by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company’s stock valued at $77,000 after purchasing an additional 430 shares during the period. Strs Ohio bought a new position in Scholar Rock during the first quarter valued at approximately $77,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Scholar Rock during the second quarter valued at approximately $94,000. 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.