Scholar Rock (NASDAQ:SRRK) PT Set at $53.00 by Raymond James Financial

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 target by analysts at Raymond James Financial in a research report issued on Wednesday, MarketBeat reports. The brokerage presently has a "strong-buy" rating on the stock. Raymond James Financial's price objective indicates a potential upside of 47.39% from the company's previous close.

A number of other research analysts have also recently commented on the company. Lifesci Capital upgraded Scholar Rock to a "strong-buy" rating in a report on Tuesday, June 3rd. Cantor Fitzgerald assumed coverage on Scholar Rock in a report on Thursday, July 17th. They issued an "overweight" rating on the stock. Finally, Wedbush reiterated an "outperform" rating and issued a $50.00 price objective on shares of Scholar Rock in a report on Wednesday, June 18th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $44.14.

Scholar Rock Trading Down 2.9%

SRRK traded down $1.09 during trading hours on Wednesday, reaching $35.96. The company's stock had a trading volume of 288,373 shares, compared to its average volume of 1,170,234. Scholar Rock has a fifty-two week low of $6.76 and a fifty-two week high of $46.98. The stock has a market cap of $3.41 billion, a PE ratio of -14.26 and a beta of 0.33. The business's 50-day moving average is $35.14 and its 200-day moving average is $34.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 10.25 and a quick ratio of 10.25.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.67) EPS for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.04). During the same quarter in the previous year, the business posted ($0.59) earnings per share. As a group, equities research analysts predict that Scholar Rock will post -2.42 earnings per share for the current fiscal year.

Insider Activity at Scholar Rock

In other Scholar Rock news, Director Jeffrey S. Flier sold 20,316 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $32.24, for a total transaction of $654,987.84. Following the transaction, the director directly owned 24,070 shares in the company, valued at $776,016.80. This represents a 45.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Akshay Vaishnaw sold 6,750 shares of the company'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 transaction, the insider owned 616,205 shares in the company, valued at $18,313,612.60. This trade represents a 1.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,654 shares of company stock valued at $3,101,811 over the last ninety days. 13.30% of the stock is owned by insiders.

Institutional Trading of Scholar Rock

A number of large investors have recently modified their holdings of SRRK. FMR LLC increased its position in shares of Scholar Rock by 33.7% during the fourth quarter. FMR LLC now owns 13,635,261 shares of the company's stock worth $589,316,000 after acquiring an additional 3,439,215 shares during the period. Marshall Wace LLP increased its position in shares of Scholar Rock by 1,283.7% during the fourth quarter. Marshall Wace LLP now owns 2,945,408 shares of the company's stock worth $127,301,000 after acquiring an additional 2,732,546 shares during the period. Norges Bank purchased a new stake in shares of Scholar Rock during the fourth quarter worth $86,043,000. Fairmount Funds Management LLC purchased a new stake in shares of Scholar Rock during the fourth quarter worth $84,839,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Scholar Rock during the fourth quarter worth $68,930,000. Hedge funds and other institutional investors own 91.08% of the company's stock.

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.