Scholar Rock (NASDAQ:SRRK – Get Free Report)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They presently have a $30.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 106.19% from the stock’s previous close.
A number of other equities analysts have also recently weighed in on the company. Wedbush reiterated an “outperform” rating and set a $23.00 price target on shares of Scholar Rock in a report on Tuesday. 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 target price for the company. Piper Sandler reissued an “overweight” rating and issued a $28.00 price target on shares of Scholar Rock in a research note on Tuesday, March 26th. Finally, Truist Financial reaffirmed a “buy” rating and set a $20.00 price objective on shares of Scholar Rock in a research report on Wednesday, April 3rd. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Scholar Rock currently has a consensus rating of “Buy” and an average target price of $25.17.
Read Our Latest Report on Scholar Rock
Scholar Rock Price Performance
Scholar Rock (NASDAQ:SRRK – Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same quarter in the previous year, the firm earned ($0.46) EPS. Analysts predict that Scholar Rock will post -2.01 earnings per share for the current year.
Insider Activity
In related news, insider Mo Qatanani sold 2,512 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $39,538.88. Following the sale, the insider now directly owns 147,019 shares of the company’s stock, valued at approximately $2,314,079.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, General Counsel Junlin Ho sold 3,489 shares of Scholar Rock stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $54,916.86. Following the completion of the transaction, the general counsel now owns 208,771 shares in the company, valued at approximately $3,286,055.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mo Qatanani sold 2,512 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $39,538.88. Following the transaction, the insider now directly owns 147,019 shares of the company’s stock, valued at $2,314,079.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,359 shares of company stock valued at $351,931. 26.20% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in SRRK. Amalgamated Bank raised its holdings in shares of Scholar Rock by 52.8% in the 3rd quarter. Amalgamated Bank now owns 4,217 shares of the company’s stock valued at $30,000 after purchasing an additional 1,458 shares in the last quarter. Silverarc Capital Management LLC purchased a new stake in Scholar Rock during the 3rd quarter worth about $69,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Scholar Rock during the 3rd quarter worth about $88,000. SG Americas Securities LLC acquired a new position in shares of Scholar Rock during the 3rd quarter worth about $153,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Scholar Rock by 479.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company’s stock valued at $157,000 after acquiring an additional 6,905 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.
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.
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