Scholar Rock Holding Corporation (NASDAQ:SRRK) Receives Average Rating of "Buy" from Brokerages

Key Points

• Scholar Rock Holding has a consensus analyst rating of “Buy” from 17 covering analysts, with an average 12-month price target of $56.
• Recent brokerage updates were mostly positive, including target price increases from firms like BMO Capital Markets, Truist, Piper Sandler, and Citigroup.
• Inside the company, CEO David Hallal and COO Keith Woods sold shares in April, but the transactions were said to be for tax withholding related to equity awards.

Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) have been assigned a consensus rating of "Buy" from the seventeen analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, twelve have given a buy rating and four have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $56.00.

Several brokerages have issued reports on SRRK. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Scholar Rock in a report on Tuesday, March 3rd. BMO Capital Markets lifted their target price on Scholar Rock from $50.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, March 4th. Truist Financial lifted their target price on Scholar Rock from $44.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. Piper Sandler lifted their target price on Scholar Rock from $51.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday, March 4th. Finally, Citigroup lifted their target price on Scholar Rock from $55.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, March 4th.

Insider Transactions at Scholar Rock

In other news, CEO David Hallal sold 30,615 shares of Scholar Rock stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total transaction of $1,517,585.55. Following the completion of the sale, the chief executive officer owned 1,639,034 shares of the company's stock, valued at approximately $81,246,915.38. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Keith Woods sold 10,220 shares of Scholar Rock stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total value of $506,605.40. Following the sale, the chief operating officer directly owned 620,055 shares of the company's stock, valued at $30,736,126.35. This represents a 1.62% decrease in their position. 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. Insiders sold a total of 63,491 shares of company stock worth $3,147,249 over the last ninety days. Corporate insiders own 13.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SRRK. AQR Capital Management LLC increased its position in shares of Scholar Rock by 609.3% in the first quarter. AQR Capital Management LLC now owns 57,294 shares of the company's stock worth $1,842,000 after purchasing an additional 49,217 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Scholar Rock by 12.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,046 shares of the company's stock worth $1,709,000 after purchasing an additional 5,831 shares during the period. Millennium Management LLC increased its position in shares of Scholar Rock by 37.4% in the first quarter. Millennium Management LLC now owns 200,255 shares of the company's stock worth $6,438,000 after purchasing an additional 54,555 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Scholar Rock by 25.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 169,825 shares of the company's stock worth $5,460,000 after purchasing an additional 34,594 shares during the period. Finally, Strs Ohio bought a new position in shares of Scholar Rock in the first quarter worth $77,000. Institutional investors own 91.08% of the company's stock.

Scholar Rock Trading Down 2.3%

Shares of Scholar Rock stock opened at $44.30 on Friday. The business has a fifty day simple moving average of $48.00 and a two-hundred day simple moving average of $45.63. Scholar Rock has a 1 year low of $27.07 and a 1 year high of $52.19. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of -12.34 and a beta of 0.69. The company has a debt-to-equity ratio of 0.71, a current ratio of 8.64 and a quick ratio of 8.64.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.01). During the same quarter last year, the business earned ($0.67) earnings per share. Research analysts forecast that Scholar Rock will post -3.23 EPS for the current year.

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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