Scholar Rock Holding Co. (NASDAQ:SRRK) Receives $40.43 Consensus Price Target from Analysts

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have earned a consensus rating of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $40.43.

Several equities research analysts recently commented on SRRK shares. BMO Capital Markets boosted their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Truist Financial raised their price target on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. HC Wainwright increased their target price on Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Wedbush raised their target price on Scholar Rock from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Finally, Piper Sandler boosted their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th.

Insider Buying and Selling at Scholar Rock

In other news, CFO Edward H. Myles sold 206,240 shares of Scholar Rock stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $26.56, for a total value of $5,477,734.40. Following the completion of the transaction, the chief financial officer now owns 161,088 shares in the company, valued at approximately $4,278,497.28. This trade represents a 56.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Public Equities L.P. Invus sold 409,433 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the sale, the insider now owns 10,850,005 shares in the company, valued at $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. Insiders sold a total of 1,821,386 shares of company stock valued at $56,395,016 in the last three months. 19.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SRRK. JPMorgan Chase & Co. raised its holdings in shares of Scholar Rock by 1.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock valued at $310,000 after purchasing an additional 379 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after buying an additional 514 shares in the last quarter. Rice Hall James & Associates LLC lifted its holdings in Scholar Rock by 3.6% during the 2nd quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company’s stock worth $383,000 after buying an additional 1,594 shares during the last quarter. ClariVest Asset Management LLC boosted its position in shares of Scholar Rock by 3.0% during the 2nd quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company’s stock worth $497,000 after acquiring an additional 1,718 shares in the last quarter. Finally, Cinctive Capital Management LP increased its holdings in shares of Scholar Rock by 7.2% in the 3rd quarter. Cinctive Capital Management LP now owns 42,902 shares of the company’s stock valued at $344,000 after acquiring an additional 2,869 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Price Performance

Shares of Scholar Rock stock opened at $43.22 on Friday. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.63. The firm has a market cap of $4.05 billion, a PE ratio of -18.39 and a beta of 0.58. The business has a 50-day moving average price of $36.09 and a 200 day moving average price of $20.09. Scholar Rock has a twelve month low of $6.76 and a twelve month high of $46.19.

About Scholar Rock

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.