Scholar Rock (NASDAQ:SRRK) Price Target Lowered to $44.00 at Barclays

Key Points

• Barclays has lowered the price target for Scholar Rock (NASDAQ:SRRK) from $45.00 to $44.00, while maintaining an "overweight" rating on the stock.
• The stock is currently up 3.6% and opened at $33.75 on Wednesday, with a potential upside of 30.37% based on Barclays' revised target.
• Scholar Rock recently reported earnings per share of ($0.98), missing the consensus estimate by ($0.32), highlighting ongoing challenges in its financial performance.

Scholar Rock (NASDAQ:SRRK - Get Free Report) had its target price lowered by investment analysts at Barclays from $45.00 to $44.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price objective would suggest a potential upside of 30.37% from the company's previous close.

SRRK has been the topic of several other research reports. Raymond James Financial set a $53.00 target price on shares of Scholar Rock and gave the company a "strong-buy" rating in a report on Wednesday, July 30th. Lifesci Capital upgraded shares of Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. Cantor Fitzgerald started coverage on shares of Scholar Rock in a research note on Thursday, July 17th. They issued an "overweight" rating on the stock. Leerink Partnrs upgraded shares of Scholar Rock to a "strong-buy" rating in a research note on Monday, September 15th. Finally, Leerink Partners began coverage on shares of Scholar Rock in a research note on Monday, September 15th. They set an "outperform" rating and a $51.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $45.50.

Scholar Rock Stock Up 3.6%

SRRK stock opened at $33.75 on Wednesday. Scholar Rock has a one year low of $6.76 and a one year high of $46.98. The company has a 50 day moving average price of $34.47 and a two-hundred day moving average price of $33.05. The stock has a market capitalization of $3.24 billion, a P/E ratio of -11.60 and a beta of 0.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.33 and a current ratio of 6.33.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings data 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 firm earned ($0.60) EPS. As a group, sell-side analysts expect that Scholar Rock will post -2.42 EPS for the current year.

Insider Buying and Selling

In related news, insider Mo Qatanani sold 3,178 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $33.52, for a total transaction of $106,526.56. Following the completion of the sale, the insider directly owned 112,317 shares in the company, valued at approximately $3,764,865.84. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Katie Peng sold 1,006 shares of the company'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 transaction of $32,725.18. Following the completion of the sale, the director 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,386 shares of company stock worth $1,413,748. Corporate insiders own 13.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SRRK. Ameriprise Financial Inc. raised its holdings in shares of Scholar Rock by 79.5% during the 4th quarter. Ameriprise Financial Inc. now owns 18,816 shares of the company's stock valued at $813,000 after purchasing an additional 8,331 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Scholar Rock in the 4th quarter valued at $873,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Scholar Rock by 42.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,231 shares of the company's stock valued at $5,845,000 after buying an additional 40,436 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Scholar Rock in the 4th quarter valued at $212,000. Finally, California State Teachers Retirement System grew its stake in Scholar Rock by 30.1% in the 4th quarter. California State Teachers Retirement System now owns 56,269 shares of the company's stock valued at $2,432,000 after buying an additional 13,015 shares during the last quarter. 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.

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