Scholar Rock Holding Corporation (NASDAQ:SRRK) Given Average Recommendation of “Buy” by Analysts

Scholar Rock Holding Corporation (NASDAQ:SRRK) has been given an average recommendation of “Buy” by the fourteen analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $46.40.

SRRK has been the subject of a number of research analyst reports. HC Wainwright reduced their price target on shares of Scholar Rock from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, September 23rd. Raymond James Financial set a $53.00 price target on shares of Scholar Rock and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Leerink Partners started coverage on shares of Scholar Rock in a research report on Monday, September 15th. They set an “outperform” rating and a $51.00 target price for the company. Jefferies Financial Group started coverage on shares of Scholar Rock in a research report on Thursday, August 21st. They set a “buy” rating and a $50.00 target price for the company. Finally, Wedbush restated an “outperform” rating and set a $50.00 target price on shares of Scholar Rock in a research report on Wednesday, June 18th.

Scholar Rock Stock Performance

Shares of SRRK stock opened at $37.47 on Monday. The company has a 50 day moving average price of $33.80 and a 200-day moving average price of $33.14. Scholar Rock has a 52 week low of $7.11 and a 52 week high of $46.98. The firm has a market capitalization of $3.60 billion, a PE ratio of -12.88 and a beta of 0.42. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.32). During the same period in the previous year, the company posted ($0.60) EPS. As a group, equities research analysts expect that Scholar Rock will post -2.42 earnings per share for the current year.

Insiders Place Their Bets

In other Scholar Rock news, insider Mo Qatanani sold 24,066 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $34.44, for a total value of $828,833.04. Following the completion of the transaction, the insider directly owned 115,495 shares in the company, valued at $3,977,647.80. This represents a 17.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Katie Peng sold 1,006 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $32.53, for a total transaction of $32,725.18. Following the completion of the sale, the director directly owned 33,914 shares in the company, valued at approximately $1,103,222.42. This represents a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,739 shares of company stock worth $1,516,584 over the last three months. 13.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Scholar Rock by 2.1% in the first quarter. Vanguard Group Inc. now owns 4,845,205 shares of the company’s stock valued at $155,773,000 after acquiring an additional 101,723 shares during the period. Bellevue Group AG raised its stake in shares of Scholar Rock by 17.6% in the second quarter. Bellevue Group AG now owns 2,947,295 shares of the company’s stock valued at $104,393,000 after acquiring an additional 440,405 shares during the period. Eventide Asset Management LLC grew its holdings in shares of Scholar Rock by 9.5% in the second quarter. Eventide Asset Management LLC now owns 2,913,246 shares of the company’s stock worth $103,192,000 after purchasing an additional 251,638 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Scholar Rock by 26.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,018,000 shares of the company’s stock worth $64,879,000 after purchasing an additional 423,131 shares during the last quarter. Finally, Hood River Capital Management LLC lifted its position in shares of Scholar Rock by 1.6% during the second quarter. Hood River Capital Management LLC now owns 1,974,964 shares of the company’s stock valued at $69,953,000 after buying an additional 30,806 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.