Scholar Rock (NASDAQ:SRRK) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised Scholar Rock’s price target from $56 to $63 while maintaining an “overweight” rating, implying 15.85% upside from the previous close.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus “Buy” rating and an average price target of $57.71, despite one “sell” rating.
• Scholar Rock shares traded at $54.38, near their one-year high of $58.49. The company met analysts’ latest quarterly EPS expectations at a loss of $0.84 per share, while institutional investors own 91.08% of the stock.

Scholar Rock (NASDAQ:SRRK - Get Free Report) had its target price lifted by analysts at JPMorgan Chase & Co. from $56.00 to $63.00 in a report released on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 15.85% from the company's previous close.

A number of other equities analysts have also recently commented on the stock. Canaccord Genuity Group started coverage on shares of Scholar Rock in a research note on Monday, April 20th. They issued a "buy" rating and a $62.00 price objective for the company. Wedbush restated an "outperform" rating and set a $58.00 target price on shares of Scholar Rock in a research report on Monday. Weiss Ratings restated a "sell (d-)" rating on shares of Scholar Rock in a research report on Friday, July 17th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Scholar Rock in a research report on Thursday, June 18th. Finally, HC Wainwright reissued a "buy" rating and set a $65.00 price objective on shares of Scholar Rock in a research note on Monday. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $57.71.

Scholar Rock Price Performance

Shares of NASDAQ SRRK traded up $0.56 during midday trading on Thursday, reaching $54.38. 167,493 shares of the stock traded hands, compared to its average volume of 1,334,391. The company has a debt-to-equity ratio of 0.71, a current ratio of 8.64 and a quick ratio of 8.64. The stock has a market capitalization of $6.62 billion, a PE ratio of -15.76 and a beta of 0.69. Scholar Rock has a one year low of $27.07 and a one year high of $58.49. The company's 50 day moving average is $50.48 and its 200 day moving average is $48.01.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share for the quarter, hitting the consensus estimate of ($0.84). During the same quarter in the prior year, the firm posted ($0.98) earnings per share. On average, equities research analysts anticipate that Scholar Rock will post -3.26 earnings per share for the current year.

Insider Transactions at Scholar Rock

In related news, Director Joshua Reed sold 3,053 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total value of $164,068.22. Following the sale, the director directly owned 19,518 shares of the company's stock, valued at $1,048,897.32. This represents a 13.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kristina Burow sold 3,053 shares of the firm's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $53.74, for a total transaction of $164,068.22. Following the completion of the sale, the director directly owned 114,657 shares of the company's stock, valued at approximately $6,161,667.18. The trade was a 2.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 17,149 shares of company stock worth $923,108. 10.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Scholar Rock

A number of institutional investors and hedge funds have recently modified their holdings of the business. Siren L.L.C. grew its position in Scholar Rock by 17.0% in the 4th quarter. Siren L.L.C. now owns 10,825,013 shares of the company's stock valued at $476,842,000 after acquiring an additional 1,575,008 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Scholar Rock during the second quarter worth $522,175,000. Redmile Group LLC boosted its stake in shares of Scholar Rock by 73.7% during the first quarter. Redmile Group LLC now owns 9,066,621 shares of the company's stock valued at $445,715,000 after purchasing an additional 3,845,775 shares during the period. Wellington Management Group LLP boosted its stake in shares of Scholar Rock by 26.7% during the fourth quarter. Wellington Management Group LLP now owns 5,759,428 shares of the company's stock valued at $253,703,000 after purchasing an additional 1,213,541 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Scholar Rock by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 5,195,465 shares of the company's stock worth $228,860,000 after purchasing an additional 280,538 shares during the last quarter. 91.08% of the stock is owned by institutional investors.

Scholar Rock Company Profile

Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company's research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock's approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.

The company's lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).

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