Scholar Rock (NASDAQ:SRRK) Price Target Raised to $45.00 at Barclays

Scholar Rock (NASDAQ:SRRK) had its target price increased by Barclays from $44.00 to $45.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also issued reports on the stock. Raymond James Financial set a $53.00 price objective on shares of Scholar Rock and gave the company a “strong-buy” rating in a research note on Wednesday, July 30th. Jefferies Financial Group assumed coverage on Scholar Rock in a report on Thursday, August 21st. They issued a “buy” rating and a $50.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Scholar Rock in a research report on Wednesday, October 8th. Truist Financial lowered their price target on Scholar Rock from $54.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Finally, Leerink Partnrs raised Scholar Rock to a “strong-buy” rating in a research report on Monday, September 15th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $49.10.

Scholar Rock Stock Down 2.5%

Shares of Scholar Rock stock opened at $36.47 on Monday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of -12.53 and a beta of 0.79. The stock has a 50-day simple moving average of $32.55 and a 200-day simple moving average of $33.43. Scholar Rock has a 52-week low of $22.71 and a 52-week 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.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.02). During the same quarter in the previous year, the company earned ($0.66) EPS. On average, equities research analysts expect that Scholar Rock will post -2.42 earnings per share for the current fiscal year.

Insider Activity

In other Scholar Rock news, Director Katie Peng sold 1,006 shares of Scholar Rock stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $32.53, for a total transaction of $32,725.18. Following the completion of the transaction, the director directly owned 33,914 shares of the company’s stock, valued at approximately $1,103,222.42. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Srinivas Akkaraju bought 113,025 shares of the stock in a transaction dated Monday, October 6th. The stock was purchased at an average cost of $38.65 per share, for a total transaction of $4,368,416.25. Following the acquisition, the director owned 500,439 shares in the company, valued at $19,341,967.35. The trade was a 29.17% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have sold 7,537 shares of company stock worth $242,088. Company insiders own 13.30% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Scholar Rock during the third quarter worth about $209,000. RA Capital Management L.P. grew its position in Scholar Rock by 2.7% during the 3rd quarter. RA Capital Management L.P. now owns 1,166,788 shares of the company’s stock worth $43,451,000 after acquiring an additional 30,335 shares during the last quarter. Paradigm Biocapital Advisors LP increased its holdings in Scholar Rock by 25.6% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 2,009,745 shares of the company’s stock valued at $74,843,000 after purchasing an additional 409,191 shares in the last quarter. Mariner LLC bought a new position in Scholar Rock in the 3rd quarter valued at $372,000. Finally, Lighthouse Investment Partners LLC bought a new position in Scholar Rock in the 3rd quarter valued at $2,756,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

About Scholar Rock

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.