Scholar Rock Holding Corporation (NASDAQ:SRRK) Given Average Rating of “Buy” by Brokerages

Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) have earned a consensus rating of “Buy” from the sixteen research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a buy recommendation and four have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $48.3333.

A number of brokerages have commented on SRRK. HC Wainwright lowered their target price on Scholar Rock from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, September 23rd. JPMorgan Chase & Co. boosted their price target on Scholar Rock from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Scholar Rock in a research note on Thursday. Barclays lifted their price objective on Scholar Rock from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Finally, Jefferies Financial Group began coverage on shares of Scholar Rock in a research note on Thursday, August 21st. They issued a “buy” rating and a $50.00 target price for the company.

Insider Activity

In other Scholar Rock news, insider Mo Qatanani sold 136,462 shares of Scholar Rock stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $45.21, for a total value of $6,169,447.02. Following the completion of the sale, the insider directly owned 108,964 shares of the company’s stock, valued at approximately $4,926,262.44. The trade was a 55.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Katie Peng sold 1,006 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $32.53, for a total value of $32,725.18. Following the completion of the transaction, the director owned 33,914 shares of the company’s stock, valued at $1,103,222.42. This trade represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 143,999 shares of company stock valued at $6,411,535 over the last 90 days. Insiders own 13.30% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Scholar Rock by 1.1% in the third quarter. Vanguard Group Inc. now owns 4,914,927 shares of the company’s stock valued at $183,032,000 after purchasing an additional 53,333 shares during the last quarter. Wellington Management Group LLP grew its holdings in Scholar Rock by 124.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,545,887 shares of the company’s stock valued at $169,289,000 after buying an additional 2,521,022 shares during the period. Bellevue Group AG increased its stake in shares of Scholar Rock by 10.1% during the 3rd quarter. Bellevue Group AG now owns 3,244,537 shares of the company’s stock valued at $120,827,000 after acquiring an additional 297,242 shares during the last quarter. Eventide Asset Management LLC lifted its holdings in shares of Scholar Rock by 9.5% during the 2nd quarter. Eventide Asset Management LLC now owns 2,913,246 shares of the company’s stock worth $103,192,000 after acquiring an additional 251,638 shares during the period. Finally, Holocene Advisors LP acquired a new stake in shares of Scholar Rock in the third quarter worth approximately $91,670,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Scholar Rock Price Performance

Shares of NASDAQ SRRK opened at $46.87 on Friday. The company has a current ratio of 6.30, a quick ratio of 6.30 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $36.01 and its 200 day moving average price is $34.99. Scholar Rock has a 52 week low of $22.71 and a 52 week high of $48.28. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of -14.88 and a beta of 0.61.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.02). During the same quarter in the prior year, the firm earned ($0.66) EPS. As a group, research analysts forecast that Scholar Rock will post -2.42 earnings per share for the current fiscal year.

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.