Barclays initiated coverage on shares of Scholar Rock (NASDAQ:SRRK - Free Report) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $45.00 target price on the stock.
SRRK has been the topic of a number of other research reports. Cantor Fitzgerald initiated coverage on Scholar Rock in a research note on Thursday, July 17th. They issued an "overweight" rating on the stock. Leerink Partnrs raised Scholar Rock to a "strong-buy" rating in a research note on Monday, September 15th. Lifesci Capital raised Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. BMO Capital Markets dropped their price target on Scholar Rock from $57.00 to $45.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Finally, Leerink Partners initiated coverage on Scholar Rock in a research note on Monday, September 15th. They issued an "outperform" rating and a $51.00 price target 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $46.20.
View Our Latest Report on Scholar Rock
Scholar Rock Stock Up 7.1%
Shares of Scholar Rock stock traded up $2.19 on Tuesday, hitting $33.03. 1,135,314 shares of the company's stock traded hands, compared to its average volume of 1,325,397. The stock has a market cap of $3.18 billion, a P/E ratio of -11.47 and a beta of 0.36. The company has a quick ratio of 6.33, a current ratio of 6.33 and a debt-to-equity ratio of 0.21. The firm's 50-day moving average is $34.69 and its 200 day moving average is $33.07. 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 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 period in the previous year, the company posted ($0.60) earnings per share. Equities analysts anticipate that Scholar Rock will post -2.42 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Jeffrey S. Flier sold 11,136 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $40.02, for a total transaction of $445,662.72. Following the completion of the transaction, the director directly owned 24,070 shares of the company's stock, valued at approximately $963,281.40. This represents a 31.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $106,526.56. Following the completion of the sale, the insider directly owned 112,317 shares of the company's stock, valued at approximately $3,764,865.84. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,386 shares of company stock worth $1,413,748 over the last ninety days. 13.30% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Scholar Rock
A number of hedge funds have recently added to or reduced their stakes in SRRK. CWM LLC boosted its holdings in shares of Scholar Rock by 152.8% in the 1st quarter. CWM LLC now owns 996 shares of the company's stock valued at $32,000 after purchasing an additional 602 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Scholar Rock in the 1st quarter valued at $71,000. GF Fund Management CO. LTD. boosted its holdings in shares of Scholar Rock by 21.9% in the 1st 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 in the last quarter. Strs Ohio acquired a new stake in shares of Scholar Rock in the 1st quarter valued at $77,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Scholar Rock during the 2nd quarter valued at $94,000. Institutional investors own 91.08% of the company's stock.
About Scholar Rock
(
Get Free Report)
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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