Scholar Rock (NASDAQ:SRRK – Get Free Report) had its price target lifted by research analysts at HC Wainwright from $30.00 to $35.00 in a research note issued to investors on Monday, Marketbeat reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 18.68% from the company’s previous close.
Several other research firms have also issued reports on SRRK. BMO Capital Markets lifted their price target on shares of Scholar Rock from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Wedbush reaffirmed an “outperform” rating and set a $23.00 target price on shares of Scholar Rock in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut their price objective on Scholar Rock from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $27.75.
View Our Latest Stock Analysis on Scholar Rock
Scholar Rock Stock Down 14.0 %
Scholar Rock (NASDAQ:SRRK – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.01. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. Equities analysts expect that Scholar Rock will post -2.39 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, insider Tracey Sacco sold 30,000 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the transaction, the insider now owns 49,285 shares in the company, valued at $1,262,681.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Tracey Sacco sold 30,000 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $25.62, for a total transaction of $768,600.00. Following the transaction, the insider now directly owns 49,285 shares in the company, valued at $1,262,681.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Srinivas Akkaraju sold 1,175,713 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $29.25, for a total transaction of $34,389,605.25. Following the completion of the transaction, the director now directly owns 5,612,896 shares in the company, valued at $164,177,208. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,415,340 shares of company stock worth $40,666,088. 26.20% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Scholar Rock
Several institutional investors have recently made changes to their positions in SRRK. Rafferty Asset Management LLC bought a new position in Scholar Rock during the fourth quarter valued at approximately $2,025,000. Bellevue Group AG increased its stake in shares of Scholar Rock by 1.5% during the 4th quarter. Bellevue Group AG now owns 2,168,925 shares of the company’s stock worth $40,776,000 after purchasing an additional 31,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Scholar Rock by 16.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock valued at $156,444,000 after purchasing an additional 1,149,519 shares in the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Scholar Rock in the 4th quarter valued at $534,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Scholar Rock by 31.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,430,764 shares of the company’s stock worth $26,898,000 after purchasing an additional 342,690 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.
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.
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