Scholar Rock (NASDAQ:SRRK) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Scholar Rock (NASDAQ:SRRK) to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Scholar Rock in a research report on Thursday, January 22nd. BMO Capital Markets increased their price target on shares of Scholar Rock from $50.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 4th. Wedbush increased their price target on shares of Scholar Rock from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. Truist Financial increased their price target on shares of Scholar Rock from $44.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Finally, Barclays increased their price target on shares of Scholar Rock from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Five research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $55.40.

Scholar Rock Stock Performance

Shares of SRRK stock opened at $47.33 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.95 and a current ratio of 6.95. Scholar Rock has a one year low of $27.07 and a one year high of $51.63. The company’s 50-day simple moving average is $46.17 and its 200-day simple moving average is $42.23. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of -13.80 and a beta of 0.68.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.10. During the same quarter in the prior year, the firm posted ($0.64) EPS. Equities analysts anticipate that Scholar Rock will post -3.13 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Mo Qatanani sold 8,484 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $47.07, for a total transaction of $399,341.88. Following the sale, the insider owned 98,445 shares in the company, valued at $4,633,806.15. This represents a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Hallal sold 30,615 shares of the stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $49.57, for a total transaction of $1,517,585.55. Following the sale, the chief executive officer owned 1,639,034 shares in the company, valued at approximately $81,246,915.38. This trade represents a 1.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 102,736 shares of company stock valued at $4,977,900 over the last quarter. Corporate insiders own 13.30% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently bought and sold shares of SRRK. IFP Advisors Inc raised its stake in Scholar Rock by 294.1% during the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after acquiring an additional 450 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Scholar Rock during the fourth quarter valued at approximately $30,000. Summit Securities Group LLC bought a new stake in shares of Scholar Rock during the fourth quarter valued at approximately $31,000. Ramirez Asset Management Inc. bought a new stake in shares of Scholar Rock during the third quarter valued at approximately $37,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Scholar Rock by 151.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock valued at $38,000 after buying an additional 525 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Scholar Rock Company Profile

Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company’s research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock’s approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.

The company’s lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).