Scholar Rock Holding Co. (NASDAQ:SRRK) Given Consensus Rating of “Buy” by Analysts

Scholar Rock Holding Co. (NASDAQ:SRRK) has earned an average rating of “Buy” from the six brokerages that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $25.17.

Several research analysts have recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Scholar Rock in a report on Tuesday, March 19th. Piper Sandler restated an “overweight” rating and issued a $28.00 target price on shares of Scholar Rock in a report on Tuesday, March 26th. Wedbush reiterated an “outperform” rating and set a $23.00 price target on shares of Scholar Rock in a research note on Tuesday, January 23rd. Raymond James assumed coverage on shares of Scholar Rock in a research note on Thursday, March 28th. They set a “strong-buy” rating and a $30.00 price target for the company. Finally, Truist Financial restated a “buy” rating and set a $20.00 price objective on shares of Scholar Rock in a research report on Wednesday, April 3rd.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, General Counsel Junlin Ho sold 3,489 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $54,916.86. Following the sale, the general counsel now directly owns 208,771 shares of the company’s stock, valued at approximately $3,286,055.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Scholar Rock news, CEO Jay T. Backstrom sold 11,614 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $182,804.36. Following the sale, the chief executive officer now directly owns 352,671 shares of the company’s stock, valued at approximately $5,551,041.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Junlin Ho sold 3,489 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $54,916.86. Following the sale, the general counsel now directly owns 208,771 shares in the company, valued at $3,286,055.54. The disclosure for this sale can be found here. In the last three months, insiders sold 22,359 shares of company stock worth $351,931. 26.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds have recently modified their holdings of SRRK. Royal Bank of Canada boosted its position in shares of Scholar Rock by 192.3% in the second quarter. Royal Bank of Canada now owns 3,493 shares of the company’s stock worth $26,000 after acquiring an additional 2,298 shares during the last quarter. Amalgamated Bank boosted its position in shares of Scholar Rock by 52.8% in the third quarter. Amalgamated Bank now owns 4,217 shares of the company’s stock worth $30,000 after acquiring an additional 1,458 shares during the last quarter. UBS Group AG boosted its position in shares of Scholar Rock by 279.0% in the first quarter. UBS Group AG now owns 4,328 shares of the company’s stock worth $35,000 after acquiring an additional 3,186 shares during the last quarter. Point72 Hong Kong Ltd boosted its position in shares of Scholar Rock by 1,388.7% in the first quarter. Point72 Hong Kong Ltd now owns 3,171 shares of the company’s stock worth $41,000 after acquiring an additional 2,958 shares during the last quarter. Finally, Alpha Paradigm Partners LLC acquired a new stake in shares of Scholar Rock in the third quarter worth approximately $50,000. 91.08% of the stock is owned by institutional investors and hedge funds.

Scholar Rock Trading Down 0.7 %

NASDAQ SRRK opened at $13.85 on Monday. The company has a quick ratio of 8.80, a current ratio of 8.80 and a debt-to-equity ratio of 0.22. Scholar Rock has a 52 week low of $5.56 and a 52 week high of $21.17. The stock has a market capitalization of $1.08 billion, a PE ratio of -6.96 and a beta of 0.90. The firm has a 50 day moving average of $15.44 and a two-hundred day moving average of $14.36.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings results on Tuesday, March 19th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.01). As a group, research analysts expect that Scholar Rock will post -2.01 EPS 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.