Wedbush Reiterates Outperform Rating for Scholar Rock (NASDAQ:SRRK)

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a report released on Monday,Benzinga reports. They currently have a $58.00 target price on the stock. Wedbush’s price target would suggest a potential upside of 12.45% from the stock’s current price.

SRRK has been the subject of a number of other reports. Canaccord Genuity Group began coverage on shares of Scholar Rock in a report on Monday, April 20th. They issued a “buy” rating and a $62.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $65.00 price objective on shares of Scholar Rock in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating on shares of Scholar Rock in a report on Thursday, June 18th. BMO Capital Markets restated an “outperform” rating and set a $76.00 target price on shares of Scholar Rock in a research report on Friday. Finally, Citigroup increased their price target on shares of Scholar Rock from $58.00 to $60.00 and gave the company a “buy” rating in a report on Friday. Four research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $56.79.

Scholar Rock Price Performance

Shares of Scholar Rock stock traded down $1.34 during trading on Monday, reaching $51.58. 101,421 shares of the stock traded hands, compared to its average volume of 1,343,335. Scholar Rock has a 52-week low of $27.07 and a 52-week high of $58.49. The company has a debt-to-equity ratio of 0.71, a current ratio of 8.64 and a quick ratio of 8.64. The business has a fifty day simple moving average of $50.06 and a two-hundred day simple moving average of $47.87. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of -14.91 and a beta of 0.69.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) EPS for the quarter, meeting analysts’ consensus estimates of ($0.84). During the same period in the prior year, the business earned ($0.98) EPS. Sell-side analysts expect that Scholar Rock will post -3.25 EPS for the current year.

Insider Activity at Scholar Rock

In other Scholar Rock news, Director Jeffrey S. Flier sold 3,053 shares of Scholar Rock stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.88, for a total transaction of $164,495.64. Following the completion of the transaction, the director directly owned 27,856 shares of the company’s stock, valued at $1,500,881.28. The trade was a 9.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kristina Burow sold 3,053 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total transaction of $164,068.22. Following the transaction, the director owned 114,657 shares in the company, valued at $6,161,667.18. This trade represents a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 17,149 shares of company stock worth $923,108 in the last ninety days. Corporate insiders own 10.30% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Several institutional investors have recently made changes to their positions in SRRK. BlackRock Inc. purchased a new position in shares of Scholar Rock during the 2nd quarter worth about $522,175,000. Deutsche Bank AG purchased a new stake in Scholar Rock in the 2nd quarter worth about $16,680,000. Persistent Asset Partners Ltd bought a new stake in Scholar Rock in the second quarter worth about $137,000. Bank of New York Mellon Corp bought a new stake in Scholar Rock in the second quarter worth about $20,087,000. Finally, State of Wyoming purchased a new position in shares of Scholar Rock during the second quarter valued at approximately $265,000. Institutional investors own 91.08% of the company’s stock.

Scholar Rock Company Profile

Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company’s research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock’s approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.

The company’s lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).