Scholar Rock (NASDAQ:SRRK) Hits New 1-Year High After Analyst Upgrade

Scholar Rock Holding Corporation (NASDAQ:SRRK) shares hit a new 52-week high during trading on Wednesday after Wedbush raised their price target on the stock from $56.00 to $58.00. Wedbush currently has an outperform rating on the stock. Scholar Rock traded as high as $50.50 and last traded at $49.16, with a volume of 5327282 shares traded. The stock had previously closed at $43.08.

Other equities research analysts have also recently issued research reports about the stock. Barclays raised their target price on shares of Scholar Rock from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Truist Financial increased their price target on Scholar Rock from $44.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. UBS Group initiated coverage on Scholar Rock in a research note on Wednesday, January 7th. They issued a “buy” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Scholar Rock from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, March 16th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Scholar Rock in a research report on Tuesday, March 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $54.93.

Insiders Place Their Bets

In related news, insider Caryn Parlavecchio sold 9,035 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $46.53, for a total value of $420,398.55. Following the completion of the sale, the insider directly owned 169,087 shares in the company, valued at $7,867,618.11. This trade represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mo Qatanani sold 8,484 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $47.07, for a total transaction of $399,341.88. Following the completion of the sale, the insider owned 98,445 shares of the company’s stock, valued at $4,633,806.15. This trade represents a 7.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 207,464 shares of company stock worth $9,157,423. 13.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SRRK. IFP Advisors Inc increased its stake in shares of Scholar Rock by 294.1% during the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock valued at $27,000 after buying an additional 450 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Scholar Rock in the fourth quarter worth about $30,000. Summit Securities Group LLC purchased a new stake in Scholar Rock in the fourth quarter worth about $31,000. Ramirez Asset Management Inc. bought a new position in Scholar Rock during the 3rd quarter worth about $37,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Scholar Rock by 151.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock worth $38,000 after acquiring an additional 525 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Stock Up 1.3%

The company has a current ratio of 6.95, a quick ratio of 6.95 and a debt-to-equity ratio of 0.41. The firm has a market cap of $5.75 billion, a PE ratio of -14.58 and a beta of 0.68. The business’s 50-day simple moving average is $45.22 and its 200 day simple moving average is $40.75.

Scholar Rock (NASDAQ:SRRK) last released 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 period in the prior year, the business earned ($0.64) earnings per share. As a group, equities research analysts expect that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current year.

About Scholar Rock

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).