Scholar Rock Holding Corporation (NASDAQ:SRRK) Receives $45.14 Average Price Target from Brokerages

Key Points

• Analysts have given Scholar Rock Holding Corporation (NASDAQ:SRRK) an average rating of "Buy," with seven analysts recommending a buy and two a strong buy, while the average one-year price target is $45.14.
• Insider activity includes sales of 5,400 shares by Director Joshua Reed and 3,375 shares by Director Michael Gilman, with a total of 93,654 shares sold by insiders in the past 90 days.
• Scholar Rock reported a loss of ($0.98) EPS for the last quarter, missing analysts' estimates, with expectations of a -2.42 EPS for the current fiscal year.

Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) has received a consensus rating of "Buy" from the nine ratings firms that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $45.1429.

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald started coverage on shares of Scholar Rock in a research note on Thursday, July 17th. They set an "overweight" rating for the company. BMO Capital Markets reduced their price objective on shares of Scholar Rock from $57.00 to $45.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Wedbush reiterated an "outperform" rating and set a $50.00 price target on shares of Scholar Rock in a research report on Wednesday, June 18th. Raymond James Financial set a $53.00 price target on shares of Scholar Rock and gave the company a "strong-buy" rating in a research report on Wednesday, July 30th. Finally, Lifesci Capital upgraded shares of Scholar Rock to a "strong-buy" rating in a research report on Tuesday, June 3rd.

Scholar Rock Price Performance

Shares of SRRK stock traded up $0.74 during mid-day trading on Friday, hitting $32.20. 1,224,470 shares of the stock were exchanged, compared to its average volume of 1,225,593. The firm has a fifty day moving average of $35.78 and a 200 day moving average of $34.28. 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 has a 52-week low of $6.76 and a 52-week high of $46.98. The company has a market cap of $3.10 billion, a PE ratio of -11.07 and a beta of 0.48.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same quarter in the previous year, the business posted ($0.60) EPS. Research analysts anticipate that Scholar Rock will post -2.42 earnings per share for the current year.

Insider Buying and Selling

In other Scholar Rock news, Director Joshua Reed sold 5,400 shares of Scholar Rock stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total transaction of $160,488.00. Following the completion of the sale, the director owned 15,732 shares of the company's stock, valued at approximately $467,555.04. The trade was a 25.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mo Qatanani sold 24,066 shares of the business's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $34.44, for a total transaction of $828,833.04. Following the completion of the transaction, the insider directly owned 115,495 shares of the company's stock, valued at $3,977,647.80. This trade represents a 17.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,654 shares of company stock valued at $3,101,811 in the last ninety days. 13.30% of the stock is owned by corporate insiders.

Institutional Trading of Scholar Rock

Several large investors have recently made changes to their positions in the company. Prudential Financial Inc. acquired a new stake in Scholar Rock in the second quarter worth $364,000. American Century Companies Inc. raised its position in Scholar Rock by 4.3% in the second quarter. American Century Companies Inc. now owns 692,676 shares of the company's stock worth $24,535,000 after acquiring an additional 28,749 shares during the period. Rhumbline Advisers raised its position in Scholar Rock by 3.8% in the second quarter. Rhumbline Advisers now owns 125,381 shares of the company's stock worth $4,441,000 after acquiring an additional 4,629 shares during the period. Franklin Resources Inc. raised its position in shares of Scholar Rock by 230.2% in the second quarter. Franklin Resources Inc. now owns 38,137 shares of the company's stock valued at $1,351,000 after purchasing an additional 26,587 shares during the period. Finally, Legal & General Group Plc grew its stake in Scholar Rock by 7.6% during the second quarter. Legal & General Group Plc now owns 71,795 shares of the company's stock valued at $2,543,000 after acquiring an additional 5,076 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company's stock.

About Scholar Rock

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.