Scholar Rock (NASDAQ:SRRK) Price Target Raised to $40.00

Scholar Rock (NASDAQ:SRRK) had its target price upped by equities researchers at HC Wainwright from $35.00 to $40.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 49.59% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Wedbush reissued an “outperform” rating and set a $37.00 price target on shares of Scholar Rock in a report on Monday, November 4th. JPMorgan Chase & Co. boosted their price target on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. BMO Capital Markets increased their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Finally, Piper Sandler boosted their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $34.00.

Scholar Rock Price Performance

Shares of NASDAQ SRRK traded down $1.41 during midday trading on Tuesday, reaching $26.74. The stock had a trading volume of 332,767 shares, compared to its average volume of 1,132,736. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.04 and a current ratio of 6.04. Scholar Rock has a 12-month low of $6.76 and a 12-month high of $35.38. The stock has a 50-day moving average of $19.14 and a 200-day moving average of $13.25. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -12.04 and a beta of 0.47.

Insider Activity

In related news, Director Srinivas Akkaraju sold 1,175,713 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the sale, the director now owns 5,612,896 shares of the company’s stock, valued at $164,177,208. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Srinivas Akkaraju sold 1,175,713 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $29.25, for a total value of $34,389,605.25. Following the sale, the director now directly owns 5,612,896 shares in the company, valued at $164,177,208. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Edward H. Myles sold 206,240 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the completion of the transaction, the chief financial officer now directly owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,415,340 shares of company stock worth $40,666,088. 19.20% of the stock is currently owned by insiders.

Institutional Trading of Scholar Rock

A number of institutional investors have recently bought and sold shares of the stock. Clearbridge Investments LLC bought a new stake in shares of Scholar Rock in the 2nd quarter worth about $6,223,000. Candriam S.C.A. bought a new stake in Scholar Rock in the second quarter worth about $6,201,000. Millennium Management LLC boosted its position in shares of Scholar Rock by 159.2% during the second quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock valued at $7,710,000 after buying an additional 568,512 shares during the period. Marshall Wace LLP raised its holdings in shares of Scholar Rock by 1,051.3% in the second quarter. Marshall Wace LLP now owns 487,285 shares of the company’s stock worth $4,059,000 after buying an additional 444,961 shares during the period. Finally, Hood River Capital Management LLC lifted its stake in shares of Scholar Rock by 58.7% during the 1st quarter. Hood River Capital Management LLC now owns 792,047 shares of the company’s stock worth $14,067,000 after acquiring an additional 292,903 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors.

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.