Scholar Rock's (SRRK) Buy Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reaffirmed its “buy” rating on Scholar Rock and maintained a $65 price target, implying approximately 17.5% upside from the stock’s reported price.
• Analyst sentiment remains broadly positive: Scholar Rock has a consensus “Buy” rating and an average price target of $58.77, though one analyst maintains a “Sell” rating.
• Scholar Rock reported quarterly EPS of negative $0.84, in line with estimates. Institutional investors own approximately 91.08% of the company, while insiders sold 17,149 shares worth about $923,000 over the past 90 days.

Scholar Rock (NASDAQ:SRRK - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $65.00 price objective on the stock. HC Wainwright's target price suggests a potential upside of 17.48% from the company's current price.

Several other analysts have also issued reports on the company. BMO Capital Markets reaffirmed an "outperform" rating and issued a $76.00 target price on shares of Scholar Rock in a research note on Friday, August 7th. Wedbush reaffirmed an "outperform" rating and set a $64.00 target price on shares of Scholar Rock in a report on Friday, August 21st. Citigroup boosted their price target on shares of Scholar Rock from $58.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Scholar Rock in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. boosted their target price on Scholar Rock from $56.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, August 13th. Four research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Scholar Rock presently has a consensus rating of "Buy" and an average price target of $58.77.

Scholar Rock Stock Performance

Scholar Rock stock opened at $55.33 on Tuesday. Scholar Rock has a fifty-two week low of $27.07 and a fifty-two week high of $61.76. The company has a debt-to-equity ratio of 0.77, a quick ratio of 7.02 and a current ratio of 7.02. The stock has a market cap of $6.74 billion, a P/E ratio of -16.04 and a beta of 0.67. The firm's fifty day moving average price is $53.45 and its 200-day moving average price is $49.30.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.84). During the same quarter in the previous year, the business earned ($0.98) earnings per share. On average, equities research analysts expect that Scholar Rock will post -3.23 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Michael Gilman sold 2,544 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $53.87, for a total transaction of $137,045.28. Following the completion of the transaction, the director owned 59,511 shares in the company, valued at $3,205,857.57. This represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Jeffrey Flier 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 $53.88, for a total transaction of $164,495.64. Following the transaction, the director directly owned 27,856 shares in the company, valued at approximately $1,500,881.28. The trade was a 9.88% 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 sold 17,149 shares of company stock valued at $923,108. 10.30% of the stock is owned by insiders.

Institutional Trading of Scholar Rock

Several large investors have recently bought and sold shares of SRRK. Siren L.L.C. lifted its stake in shares of Scholar Rock by 17.0% in the 4th quarter. Siren L.L.C. now owns 10,825,013 shares of the company's stock valued at $476,842,000 after purchasing an additional 1,575,008 shares during the period. BlackRock Inc. purchased a new position in Scholar Rock during the second quarter valued at $522,175,000. Redmile Group LLC lifted its position in Scholar Rock by 73.7% during the first quarter. Redmile Group LLC now owns 9,066,621 shares of the company's stock valued at $445,715,000 after buying an additional 3,845,775 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Scholar Rock by 26.7% during the 4th quarter. Wellington Management Group LLP now owns 5,759,428 shares of the company's stock valued at $253,703,000 after buying an additional 1,213,541 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of Scholar Rock by 6,187.6% during the 2nd quarter. California State Teachers Retirement System now owns 4,710,420 shares of the company's stock valued at $259,073,000 after buying an additional 4,635,504 shares in the last quarter. 91.08% of the stock is owned by institutional investors.

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).

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