Scholar Rock Holding Corporation (NASDAQ:SRRK) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Scholar Rock Holding Corporation has received an average recommendation of "Buy" from analysts, with ten analysts giving a buy rating and three assigning a strong buy rating.
• The company’s shares have a 12-month target price average of $48.50, while recent analyst reports have adjusted target prices, with BMO Capital Markets lowering it from $57.00 to $45.00.
• Insider activity included Director Katie Peng selling 1,006 shares worth $32,725, while Director Srinivas Akkaraju purchased 387,414 shares for approximately $14.4 million.

Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) have earned an average recommendation of "Buy" from the fourteen analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, ten have given a buy rating and three have assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $48.50.

A number of analysts have recently issued reports on the company. BMO Capital Markets lowered their price objective on Scholar Rock from $57.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Leerink Partnrs upgraded shares of Scholar Rock to a "strong-buy" rating in a research report on Monday, September 15th. Leerink Partners initiated coverage on Scholar Rock in a research note on Monday, September 15th. They issued an "outperform" rating and a $51.00 target price for the company. Cantor Fitzgerald started coverage on Scholar Rock in a research report on Thursday, July 17th. They issued an "overweight" rating for the company. Finally, Piper Sandler dropped their price objective on Scholar Rock from $52.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, September 24th.

Insider Activity at Scholar Rock

In other Scholar Rock news, Director Katie Peng sold 1,006 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $32.53, for a total value of $32,725.18. Following the transaction, the director directly owned 33,914 shares of the company's stock, valued at approximately $1,103,222.42. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Srinivas Akkaraju bought 387,414 shares of the company's stock in a transaction on Friday, October 3rd. The shares were acquired at an average price of $37.27 per share, with a total value of $14,438,919.78. Following the transaction, the director directly owned 387,414 shares in the company, valued at approximately $14,438,919.78. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 7,537 shares of company stock worth $242,088 over the last ninety days. Company insiders own 13.30% of the company's stock.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRRK. Lord Abbett & CO. LLC grew its holdings in shares of Scholar Rock by 86.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 877,374 shares of the company's stock valued at $28,207,000 after buying an additional 406,074 shares during the period. Northern Trust Corp grew its stake in Scholar Rock by 2.5% in the first quarter. Northern Trust Corp now owns 765,280 shares of the company's stock valued at $24,604,000 after acquiring an additional 18,753 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. increased its holdings in shares of Scholar Rock by 145.3% in the second quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 769,442 shares of the company's stock worth $27,254,000 after acquiring an additional 455,753 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Scholar Rock by 60.9% during the first quarter. Intech Investment Management LLC now owns 56,784 shares of the company's stock worth $1,826,000 after purchasing an additional 21,483 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Scholar Rock during the 1st quarter valued at about $458,000. Institutional investors own 91.08% of the company's stock.

Scholar Rock Stock Up 0.5%

Shares of Scholar Rock stock opened at $28.66 on Friday. Scholar Rock has a 12-month low of $22.71 and a 12-month high of $46.98. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.76 billion, a PE ratio of -9.85 and a beta of 0.42. The stock's fifty day moving average is $33.44 and its 200-day moving average is $33.31.

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

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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