Scholar Rock (NASDAQ:SRRK) Given a $53.00 Price Target by Raymond James Financial Analysts

Key Points

• Raymond James Financial has initiated coverage on Scholar Rock (NASDAQ:SRRK) with a strong-buy rating and a price target of $53.00, indicating a potential upside of 36.30% from its previous close.
• Scholar Rock's stock has seen increased ratings from multiple analysts, with an average rating of "Buy" and a consensus price target of $44.14.
• The company's recent quarterly earnings report showed a loss of ($0.67) per share, missing analysts' expectations of ($0.63), while insiders have sold a total of 93,654 shares worth over $3.1 million in the last 90 days.

Scholar Rock (NASDAQ:SRRK - Get Free Report) has been assigned a $53.00 price objective by stock analysts at Raymond James Financial in a report released on Wednesday, Marketbeat reports. The firm presently has a "strong-buy" rating on the stock. Raymond James Financial's price target would indicate a potential upside of 43.28% from the company's current price.

SRRK has been the topic of several other research reports. Wedbush reissued an "outperform" rating and set a $50.00 price objective on shares of Scholar Rock in a research note on Wednesday, June 18th. Lifesci Capital raised shares of Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. Finally, Cantor Fitzgerald assumed coverage on shares of Scholar Rock in a research note on Thursday, July 17th. They set an "overweight" rating on the stock. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Scholar Rock currently has a consensus rating of "Buy" and a consensus target price of $44.14.

Scholar Rock Stock Up 1.7%

Shares of NASDAQ SRRK opened at $36.99 on Wednesday. Scholar Rock has a 12-month low of $6.76 and a 12-month high of $46.98. The company has a market capitalization of $3.51 billion, a PE ratio of -14.62 and a beta of 0.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 10.25 and a quick ratio of 10.25. The firm's 50-day moving average is $35.41 and its two-hundred day moving average is $34.68.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.04). During the same quarter in the prior year, the firm earned ($0.59) EPS. Equities analysts anticipate that Scholar Rock will post -2.42 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Akshay Vaishnaw sold 6,750 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $29.72, for a total value of $200,610.00. Following the completion of the transaction, the insider directly owned 616,205 shares in the company, valued at approximately $18,313,612.60. This represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey S. Flier sold 11,136 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $40.02, for a total transaction of $445,662.72. Following the completion of the transaction, the director owned 24,070 shares of the company's stock, valued at $963,281.40. This trade represents a 31.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,654 shares of company stock valued at $3,101,811. 13.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. lifted its position in shares of Scholar Rock by 21.9% in the 1st 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 last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Scholar Rock by 15.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,668 shares of the company's stock worth $130,000 after buying an additional 500 shares during the last quarter. CWM LLC lifted its position in shares of Scholar Rock by 152.8% in the 1st quarter. CWM LLC now owns 996 shares of the company's stock worth $32,000 after buying an additional 602 shares during the last quarter. Corebridge Financial Inc. lifted its position in shares of Scholar Rock by 2.2% in the 1st 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 last quarter. Finally, Summit Investment Advisors Inc. lifted its position in shares of Scholar Rock by 16.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,109 shares of the company's stock worth $350,000 after buying an additional 1,170 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors.

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.