Scholar Rock (NASDAQ:SRRK) Price Target Cut to $44.00 by Analysts at HC Wainwright

Key Points

• HC Wainwright has reduced the price target for Scholar Rock's stock from $50.00 to $44.00, while maintaining a "buy" rating, suggesting a potential upside of 39.06% from its current price.
• Scholar Rock's stock price decreased to $31.64 in recent trading, with a market cap of $3.04 billion and a 52-week range from $6.76 to $46.98.
• Insiders have sold approximately 39,386 shares of Scholar Rock over the past three months, reflecting a decrease in ownership among key company executives.

Scholar Rock (NASDAQ:SRRK - Get Free Report) had its target price dropped by HC Wainwright from $50.00 to $44.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target suggests a potential upside of 39.06% from the stock's current price.

Several other brokerages have also weighed in on SRRK. Raymond James Financial set a $53.00 price objective on Scholar Rock and gave the company a "strong-buy" rating in a report on Wednesday, July 30th. Lifesci Capital raised Scholar Rock to a "strong-buy" rating in a report on Tuesday, June 3rd. Leerink Partnrs raised Scholar Rock to a "strong-buy" rating in a report on Monday, September 15th. BMO Capital Markets dropped their target price 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. Finally, Jefferies Financial Group began coverage on Scholar Rock in a research report on Thursday, August 21st. They set a "buy" rating and a $50.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $45.60.

Scholar Rock Stock Performance

Shares of SRRK stock traded down $0.94 during trading on Tuesday, hitting $31.64. The company's stock had a trading volume of 5,455,143 shares, compared to its average volume of 1,359,376. The company has a market cap of $3.04 billion, a PE ratio of -11.12 and a beta of 0.36. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $34.57 and a 200-day moving average of $33.05. Scholar Rock has a 52 week low of $6.76 and a 52 week high of $46.98.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same quarter in the prior year, the company earned ($0.60) earnings per share. As a group, research analysts anticipate that Scholar Rock will post -2.42 earnings per share for the current year.

Insider Activity

In other news, Director Katie Peng sold 1,006 shares of the firm's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $32.53, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mo Qatanani sold 24,066 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $34.44, for a total value of $828,833.04. Following the transaction, the insider directly owned 115,495 shares in the company, valued at $3,977,647.80. This trade represents a 17.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,386 shares of company stock valued at $1,413,748. 13.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans bought a new stake in shares of Scholar Rock in the second quarter worth about $639,000. Tower Research Capital LLC TRC lifted its holdings in Scholar Rock by 288.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,115 shares of the company's stock worth $323,000 after buying an additional 6,768 shares during the period. E Fund Management Co. Ltd. lifted its holdings in Scholar Rock by 6.8% in the 2nd quarter. E Fund Management Co. Ltd. now owns 11,146 shares of the company's stock worth $395,000 after buying an additional 710 shares during the period. Vestal Point Capital LP grew its position in shares of Scholar Rock by 15.4% in the 2nd quarter. Vestal Point Capital LP now owns 1,500,000 shares of the company's stock worth $53,130,000 after buying an additional 200,000 shares during the last quarter. Finally, Eventide Asset Management LLC increased its stake in shares of Scholar Rock by 9.5% during the second quarter. Eventide Asset Management LLC now owns 2,913,246 shares of the company's stock valued at $103,192,000 after buying an additional 251,638 shares during the period. 91.08% of the stock is 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.

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