Scholar Rock (NASDAQ:SRRK) Rating Reiterated by HC Wainwright

Scholar Rock (NASDAQ:SRRK)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They currently have a $30.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 181.16% from the company’s current price.

A number of other research analysts have also weighed in on SRRK. Truist Financial reissued a “buy” rating and issued a $20.00 target price on shares of Scholar Rock in a research note on Wednesday, April 3rd. Wedbush reiterated an “outperform” rating and set a $23.00 target price on shares of Scholar Rock in a research note on Tuesday, May 7th. Raymond James assumed coverage on shares of Scholar Rock in a research report on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 price target for the company. Finally, Piper Sandler reissued an “overweight” rating and set a $28.00 price target on shares of Scholar Rock in a report on Tuesday, March 26th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $25.17.

Scholar Rock Price Performance

Shares of SRRK opened at $10.67 on Thursday. The business’s 50-day moving average is $14.43 and its two-hundred day moving average is $15.10. The company has a market capitalization of $850.93 million, a P/E ratio of -5.11 and a beta of 0.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 6.58 and a current ratio of 6.58. Scholar Rock has a fifty-two week low of $5.56 and a fifty-two week high of $21.17.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Tuesday, May 7th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). During the same quarter in the previous year, the business posted ($0.46) earnings per share. Research analysts predict that Scholar Rock will post -2.4 earnings per share for the current year.

Hedge Funds Weigh In On Scholar Rock

Several hedge funds have recently made changes to their positions in SRRK. Walleye Trading LLC purchased a new position in Scholar Rock during the first quarter valued at approximately $178,000. Jane Street Group LLC raised its stake in shares of Scholar Rock by 95.5% in the 1st quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock valued at $4,339,000 after buying an additional 119,363 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in shares of Scholar Rock in the 1st quarter valued at $4,900,000. Bayesian Capital Management LP acquired a new stake in shares of Scholar Rock during the 1st quarter worth about $258,000. Finally, Redmile Group LLC increased its position in Scholar Rock by 0.3% in the 1st quarter. Redmile Group LLC now owns 6,419,610 shares of the company’s stock valued at $114,012,000 after acquiring an additional 17,105 shares in the last quarter. Institutional investors and hedge funds 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.