Scholar Rock (NASDAQ:SRRK) Earns Outperform Rating from Wedbush

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $64.00 target price on the stock. Wedbush’s target price suggests a potential upside of 15.50% from the company’s previous close.

Several other brokerages have also recently weighed in on SRRK. JPMorgan Chase & Co. increased their price target on Scholar Rock from $56.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. BMO Capital Markets reiterated an “outperform” rating on shares of Scholar Rock in a report on Thursday. HC Wainwright lowered Scholar Rock from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a research report on Friday, July 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Scholar Rock in a research note on Thursday, June 18th. Four investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Scholar Rock presently has a consensus rating of “Buy” and a consensus target price of $59.71.

Scholar Rock Stock Performance

Shares of Scholar Rock stock opened at $55.41 on Monday. The firm’s 50 day moving average is $53.56 and its 200 day moving average is $49.53. The firm has a market capitalization of $6.75 billion, a PE ratio of -16.06 and a beta of 0.67. The company has a current ratio of 7.02, a quick ratio of 7.02 and a debt-to-equity ratio of 0.77. Scholar Rock has a 1 year low of $27.07 and a 1 year high of $61.76.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.84) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.84). During the same period in the prior year, the business posted ($0.98) EPS. Equities research analysts forecast that Scholar Rock will post -3.23 earnings per share for the current fiscal year.

Insider Transactions at Scholar Rock

In related news, Director Katie Peng sold 5,446 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $53.88, for a total value of $293,430.48. Following the sale, the director owned 34,301 shares in the company, valued at $1,848,137.88. This represents a 13.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joshua Reed sold 3,053 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $53.74, for a total value of $164,068.22. Following the completion of the sale, the director directly owned 19,518 shares of the company’s stock, valued at approximately $1,048,897.32. This trade represents a 13.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 17,149 shares of company stock valued at $923,108. Company insiders own 10.30% of the company’s stock.

Institutional Trading of Scholar Rock

Several institutional investors have recently made changes to their positions in the company. IFP Advisors Inc boosted its holdings in Scholar Rock by 294.1% during the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after purchasing an additional 450 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Scholar Rock in the 4th quarter valued at about $30,000. Summit Securities Group LLC bought a new position in shares of Scholar Rock during the 4th quarter worth approximately $31,000. Allworth Financial LP bought a new position in shares of Scholar Rock during the 2nd quarter worth approximately $35,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Scholar Rock by 151.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock worth $38,000 after buying an additional 525 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.

About Scholar Rock

Scholar Rock, Inc is a biopharmaceutical company focused on developing medicines that selectively target growth factors in their latent forms. The company’s approach is designed to modulate the activation of growth factors in specific tissues, with the goal of addressing diseases in which these biological pathways contribute to impaired function or abnormal tissue growth.

Scholar Rock’s lead program is apitegromab, a monoclonal antibody designed to inhibit the activation of myostatin. The company has studied apitegromab as a potential treatment for spinal muscular atrophy, a genetic neuromuscular disorder that causes progressive muscle weakness and loss of motor function.