Wedbush Boosts Scholar Rock (NASDAQ:SRRK) Price Target to $47.00

Scholar Rock (NASDAQ:SRRK) had its price target upped by Wedbush from $40.00 to $47.00 in a research note issued to investors on Monday, MarketBeat reports. Wedbush currently has an outperform rating on the stock. Wedbush also issued estimates for Scholar Rock’s Q4 2024 earnings at ($0.53) EPS, FY2024 earnings at ($2.39) EPS, Q1 2025 earnings at ($0.54) EPS, Q2 2025 earnings at ($0.53) EPS, Q3 2025 earnings at ($0.52) EPS, Q4 2025 earnings at ($0.53) EPS, FY2025 earnings at ($2.13) EPS, FY2026 earnings at ($1.65) EPS, FY2027 earnings at ($0.16) EPS and FY2028 earnings at $0.81 EPS.

Other analysts have also recently issued research reports about the company. HC Wainwright lifted their price target on Scholar Rock from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their target price on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Truist Financial increased their price target on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler lifted their price objective on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, BMO Capital Markets increased their price objective on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $40.43.

Scholar Rock Trading Up 2.9 %

NASDAQ SRRK opened at $38.15 on Monday. Scholar Rock has a 12-month low of $6.76 and a 12-month high of $43.38. The company has a fifty day simple moving average of $24.29 and a two-hundred day simple moving average of $14.54. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The stock has a market cap of $3.57 billion, a P/E ratio of -16.23 and a beta of 0.47.

Insider Buying and Selling

In other Scholar Rock news, CFO Edward H. Myles sold 206,240 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the transaction, the chief financial officer now owns 161,088 shares in the company, valued at approximately $4,278,497.28. This represents a 56.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $38.49, for a total value of $15,759,076.17. Following the completion of the sale, the insider now directly owns 10,850,005 shares in the company, valued at approximately $417,616,692.45. The trade was a 3.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,823,322 shares of company stock valued at $56,411,627. Corporate insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Scholar Rock by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock worth $52,739,000 after purchasing an additional 114,550 shares during the last quarter. American International Group Inc. raised its holdings in shares of Scholar Rock by 3.0% during the first quarter. American International Group Inc. now owns 28,407 shares of the company’s stock valued at $505,000 after acquiring an additional 834 shares during the last quarter. Bayesian Capital Management LP purchased a new position in shares of Scholar Rock in the first quarter valued at approximately $258,000. Kennedy Capital Management LLC acquired a new stake in shares of Scholar Rock in the first quarter worth approximately $4,900,000. Finally, Jane Street Group LLC increased its position in shares of Scholar Rock by 95.5% during the first quarter. Jane Street Group LLC now owns 244,318 shares of the company’s stock worth $4,339,000 after purchasing an additional 119,363 shares in the last quarter. 91.08% of the stock is owned by hedge funds and other 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.