Brokerages Set Scholar Rock Holding Corporation (NASDAQ:SRRK) Target Price at $42.67

Scholar Rock Holding Corporation (NASDAQ:SRRK - Get Free Report) has earned an average recommendation of "Buy" from the eight research firms that are currently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $42.67.

SRRK has been the topic of several recent research reports. Lifesci Capital upgraded Scholar Rock to a "strong-buy" rating in a report on Tuesday, June 3rd. Wedbush reaffirmed an "outperform" rating and issued a $50.00 price target on shares of Scholar Rock in a research note on Wednesday, June 18th. Finally, Cantor Fitzgerald assumed coverage on shares of Scholar Rock in a report on Thursday. They set an "overweight" rating on the stock.

Insiders Place Their Bets

In related news, insider Akshay Vaishnaw sold 6,750 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $200,610.00. Following the sale, the insider owned 616,205 shares of the company's stock, valued at $18,313,612.60. The trade was a 1.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Gilman sold 3,375 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $100,305.00. Following the completion of the transaction, the director directly owned 55,216 shares in the company, valued at approximately $1,641,019.52. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,654 shares of company stock worth $3,265,961 over the last quarter. Corporate insiders own 13.30% of the company's stock.

Institutional Investors Weigh In On Scholar Rock

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. boosted its position in shares of Scholar Rock by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock worth $77,000 after buying an additional 430 shares during the period. CWM LLC boosted its position in shares of Scholar Rock by 152.8% during the first quarter. CWM LLC now owns 996 shares of the company's stock worth $32,000 after buying an additional 602 shares during the period. Corebridge Financial Inc. boosted its position in shares of Scholar Rock by 2.2% during the first quarter. Corebridge Financial Inc. now owns 39,389 shares of the company's stock worth $1,266,000 after buying an additional 850 shares during the period. Summit Investment Advisors Inc. boosted its position in Scholar Rock by 16.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,109 shares of the company's stock valued at $350,000 after purchasing an additional 1,170 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Scholar Rock by 10.2% during the first quarter. Arizona State Retirement System now owns 18,767 shares of the company's stock valued at $603,000 after purchasing an additional 1,734 shares during the last quarter. Institutional investors own 91.08% of the company's stock.

Scholar Rock Stock Performance

Shares of NASDAQ SRRK traded down $2.14 during midday trading on Wednesday, hitting $40.72. 1,896,457 shares of the company's stock traded hands, compared to its average volume of 1,319,028. Scholar Rock has a 1 year low of $6.76 and a 1 year high of $46.98. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of -16.09 and a beta of 0.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 10.25 and a current ratio of 10.25. The firm has a fifty day moving average of $33.76 and a 200 day moving average of $35.12.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.04). During the same period last year, the company posted ($0.59) earnings per share. On average, analysts forecast that Scholar Rock will post -2.42 earnings per share for the current year.

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.