Scholar Rock Holding Corporation (NASDAQ:SRRK) Stock Has Consensus Target Price of $67.67 According to Analysts

Scholar Rock Holding Corporation (NASDAQ:SRRK) has earned a consensus rating of “Moderate Buy” from the seventeen research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, ten have issued a buy recommendation and four have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $67.67.

Several research firms have recently issued reports on SRRK. JPMorgan Chase & Co. raised their price objective on Scholar Rock from $63.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, September 21st. TD Cowen reiterated a “buy” rating on shares of Scholar Rock in a research note on Monday, September 14th. Citigroup increased their target price on Scholar Rock from $60.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, September 14th. BMO Capital Markets increased their target price on Scholar Rock from $76.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th. Finally, Truist Financial raised their price target on Scholar Rock from $76.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th.

Insider Activity at Scholar Rock

In related news, Director Srinivas Akkaraju acquired 146,970 shares of the business’s stock in a transaction dated Monday, October 26th. The shares were acquired at an average cost of $41.59 per share, for a total transaction of $6,112,482.30. Following the acquisition, the director directly owned 6,380,517 shares in the company, valued at approximately $265,365,702.03. The trade was a 2.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 10.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Scholar Rock

A number of institutional investors have recently bought and sold shares of SRRK. BlackRock Inc. acquired a new position in Scholar Rock during the second quarter worth approximately $522,175,000. Redmile Group LLC boosted its holdings in shares of Scholar Rock by 73.7% in the 1st quarter. Redmile Group LLC now owns 9,066,621 shares of the company’s stock valued at $445,715,000 after purchasing an additional 3,845,775 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Scholar Rock by 19.5% in the 1st quarter. Jennison Associates LLC now owns 3,340,492 shares of the company’s stock valued at $164,219,000 after purchasing an additional 545,304 shares during the last quarter. Jupiter Topco LLC acquired a new position in shares of Scholar Rock in the 2nd quarter valued at $123,279,000. Finally, Janus Henderson Group PLC grew its stake in shares of Scholar Rock by 26.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,236,837 shares of the company’s stock valued at $109,891,000 after buying an additional 462,669 shares during the period. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Scholar Rock Stock Up 3.2%

SRRK stock opened at $46.94 on Tuesday. The stock has a market capitalization of $5.72 billion, a P/E ratio of -13.61 and a beta of 0.78. The company has a debt-to-equity ratio of 0.77, a quick ratio of 7.02 and a current ratio of 7.02. Scholar Rock has a one year low of $27.07 and a one year high of $61.76. The company has a 50 day moving average price of $47.13 and a two-hundred day moving average price of $48.19.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share for the quarter, meeting the consensus estimate of ($0.84). During the same period last year, the company earned ($0.98) earnings per share. As a group, sell-side analysts expect that Scholar Rock will post -3.29 EPS for the current year.

About Scholar Rock

Scholar Rock, Inc is a biotechnology company focused on developing medicines that selectively target growth factors in the transforming growth factor beta (TGF-β) superfamily. The company’s research is intended to address serious diseases in which these signaling pathways play an important role, including neuromuscular and metabolic conditions.

Scholar Rock’s lead investigational product is apitegromab, a monoclonal antibody designed to inhibit the activation of myostatin, a protein that limits muscle growth.