Scholar Rock (NASDAQ:SRRK) Research Coverage Started at Barclays

Barclays began coverage on shares of Scholar Rock (NASDAQ:SRRK) in a report released on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $45.00 target price on the stock.

Several other equities analysts also recently weighed in on SRRK. Leerink Partners initiated coverage on Scholar Rock in a report on Monday. They set an “outperform” rating and a $51.00 price target for the company. Cantor Fitzgerald initiated coverage on Scholar Rock in a report on Thursday, July 17th. They issued an “overweight” rating for the company. BMO Capital Markets reduced their price objective on Scholar Rock from $57.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Lifesci Capital upgraded Scholar Rock to a “strong-buy” rating in a report on Tuesday, June 3rd. Finally, 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. Three analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $46.20.

Scholar Rock Stock Performance

Shares of SRRK stock opened at $32.48 on Tuesday. The stock has a fifty day moving average of $34.83 and a 200 day moving average of $33.16. Scholar Rock has a 52 week low of $6.76 and a 52 week high of $46.98. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -11.16 and a beta of 0.36. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same quarter last year, the firm earned ($0.60) earnings per share. As a group, research analysts expect that Scholar Rock will post -2.42 earnings per share for the current year.

Insider Buying and Selling at Scholar Rock

In related news, insider Mo Qatanani sold 3,178 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $33.52, for a total transaction of $106,526.56. Following the completion of the transaction, the insider directly owned 112,317 shares in the company, valued at approximately $3,764,865.84. The trade was a 2.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey S. Flier sold 11,136 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $40.02, for a total value of $445,662.72. Following the transaction, the director owned 24,070 shares of the company’s stock, valued at approximately $963,281.40. This trade represents a 31.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,838 shares of company stock worth $2,438,562 in the last three months. 13.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. CWM LLC grew its stake in shares of Scholar Rock by 152.8% during the 1st quarter. CWM LLC now owns 996 shares of the company’s stock valued at $32,000 after acquiring an additional 602 shares during the period. GF Fund Management CO. LTD. purchased a new position in Scholar Rock in the 4th quarter worth approximately $85,000. Federated Hermes Inc. purchased a new position in Scholar Rock in the 1st quarter worth approximately $71,000. Strs Ohio purchased a new position in Scholar Rock in the 1st quarter worth approximately $77,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in Scholar Rock in the 2nd quarter worth approximately $94,000. 91.08% of the stock is currently owned by institutional investors.

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.