Scholar Rock (NASDAQ:SRRK) Price Target Lowered to $45.00 at BMO Capital Markets

Key Points

• BMO Capital Markets has lowered the price target for Scholar Rock (NASDAQ:SRRK) from $57.00 to $45.00, maintaining an "outperform" rating on the stock
• Despite the price target reduction, seven analysts have rated the stock with a buy or strong buy rating, indicating overall positive sentiment towards the company
• Scholar Rock reported a loss of ($0.98) earnings per share for its last quarter, missing consensus estimates, while analysts forecast an expected EPS of -2.42 for the current year

Scholar Rock (NASDAQ:SRRK - Get Free Report) had its target price decreased by investment analysts at BMO Capital Markets from $57.00 to $45.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. BMO Capital Markets' target price indicates a potential upside of 37.09% from the company's previous close.

Other equities analysts have also issued reports about the company. Raymond James Financial set a $53.00 price objective on Scholar Rock and gave the stock a "strong-buy" rating in a research note on Wednesday, July 30th. Lifesci Capital upgraded shares of Scholar Rock to a "strong-buy" rating in a report on Tuesday, June 3rd. Cantor Fitzgerald started coverage on Scholar Rock in a research note on Thursday, July 17th. They issued an "overweight" rating for the company. Finally, Wedbush reiterated an "outperform" rating and issued a $50.00 target price on shares of Scholar Rock in a report on Wednesday, June 18th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $45.14.

Scholar Rock Stock Performance

Shares of SRRK traded down $1.79 during midday trading on Thursday, reaching $32.83. 165,243 shares of the stock were exchanged, compared to its average volume of 1,202,005. The company has a market cap of $3.12 billion, a P/E ratio of -13.13 and a beta of 0.48. Scholar Rock has a twelve month low of $6.76 and a twelve month high of $46.98. The company has a quick ratio of 10.25, a current ratio of 10.25 and a debt-to-equity ratio of 0.16. The stock's 50 day simple moving average is $35.66 and its 200 day simple moving average is $34.70.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.32). During the same period last year, the business posted ($0.60) EPS. On average, sell-side analysts expect that Scholar Rock will post -2.42 earnings per share for the current year.

Insider Buying and Selling at Scholar Rock

In related news, Director Jeffrey S. Flier sold 20,316 shares of Scholar Rock stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $32.24, for a total transaction of $654,987.84. Following the completion of the sale, the director owned 24,070 shares in the company, valued at $776,016.80. This trade represents a 45.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mo Qatanani sold 24,066 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $34.44, for a total value of $828,833.04. Following the transaction, the insider owned 115,495 shares in the company, valued at $3,977,647.80. The trade was a 17.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,654 shares of company stock valued at $3,101,811 over the last ninety days. Corporate insiders own 13.30% of the company's stock.

Institutional Investors Weigh In On Scholar Rock

Large investors have recently modified their holdings of the business. CWM LLC lifted its stake in shares of Scholar Rock by 152.8% during the 1st quarter. CWM LLC now owns 996 shares of the company's stock worth $32,000 after purchasing an additional 602 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of Scholar Rock during the first quarter valued at $71,000. GF Fund Management CO. LTD. increased its holdings in shares of Scholar Rock by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock valued at $77,000 after purchasing an additional 430 shares during the period. Strs Ohio acquired a new stake in shares of Scholar Rock during the 1st quarter valued at about $77,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in 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 valued at $130,000 after acquiring an additional 500 shares during the period. Institutional investors own 91.08% of the company's stock.

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.

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