Scholar Rock's (SRRK) Outperform Rating Reaffirmed at Wedbush

Key Points

• Wedbush reaffirmed its “Outperform” rating on Scholar Rock and set a $64 price target, implying approximately 15.5% upside from the stock’s $55.41 opening price.
• Analyst sentiment remains broadly positive: Scholar Rock has an average “Buy” rating and a consensus price target of $59.71, though HC Wainwright downgraded the stock to “Neutral” and Weiss Ratings maintained a sell rating.
• Scholar Rock reported quarterly EPS of -$0.84, in line with estimates, while institutional investors own 91.08% of the company and insiders have sold $923,108 worth of shares over the past three months.

Scholar Rock (NASDAQ:SRRK - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Wedbush in a research note issued to investors on Monday, Benzinga reports. They currently have a $64.00 price objective on the stock. Wedbush's price target indicates a potential upside of 15.50% from the stock's current price.

A number of other brokerages have also weighed in on SRRK. Cantor Fitzgerald reiterated an "overweight" rating on shares of Scholar Rock in a research note on Thursday, June 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Scholar Rock in a report on Friday, July 17th. Citigroup reiterated a "buy" rating on shares of Scholar Rock in a research report on Monday. HC Wainwright cut shares of Scholar Rock from a "buy" rating to a "neutral" rating in a research report on Tuesday, September 8th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $72.00 price target on shares of Scholar Rock in a research report on Monday. Four investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Scholar Rock currently has an average rating of "Buy" and an average price target of $59.71.

Scholar Rock Price Performance

Shares of SRRK opened at $55.41 on Monday. Scholar Rock has a 52 week low of $27.07 and a 52 week high of $61.76. The firm has a market cap of $6.75 billion, a P/E ratio of -16.06 and a beta of 0.67. The firm's 50-day simple moving average is $53.56 and its 200 day simple moving average is $49.53. 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 (NASDAQ:SRRK - Get Free Report) last issued its quarterly earnings data 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 last year, the company earned ($0.98) EPS. On average, analysts forecast that Scholar Rock will post -3.23 earnings per share for the current year.

Insider Buying and Selling 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 transaction of $293,430.48. Following the completion of the sale, the director owned 34,301 shares of the company's stock, valued at $1,848,137.88. This represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kristina Burow sold 3,053 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $53.74, for a total transaction of $164,068.22. Following the sale, the director owned 114,657 shares in the company, valued at $6,161,667.18. The trade was a 2.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 17,149 shares of company stock valued at $923,108 over the last three months. 10.30% of the stock is owned by insiders.

Institutional Trading of Scholar Rock

Several large investors have recently made changes to their positions in SRRK. AQR Capital Management LLC raised its position in Scholar Rock by 609.3% during the first quarter. AQR Capital Management LLC now owns 57,294 shares of the company's stock valued at $1,842,000 after purchasing an additional 49,217 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Scholar Rock by 12.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,046 shares of the company's stock valued at $1,709,000 after purchasing an additional 5,831 shares in the last quarter. Millennium Management LLC increased its stake in shares of Scholar Rock by 37.4% in the 1st quarter. Millennium Management LLC now owns 200,255 shares of the company's stock valued at $6,438,000 after purchasing an additional 54,555 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Scholar Rock by 25.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 169,825 shares of the company's stock valued at $5,460,000 after purchasing an additional 34,594 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Scholar Rock during the 1st quarter worth $77,000. Institutional investors and hedge funds 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.

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