Barclays assumed coverage on shares of Scholar Rock (NASDAQ:SRRK - Free Report) in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $45.00 price target on the stock.
Several other equities research analysts have also issued reports on the company. Leerink Partnrs raised Scholar Rock to a "strong-buy" rating in a research note on Monday, September 15th. BMO Capital Markets lowered their price objective on Scholar Rock from $57.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Lifesci Capital raised Scholar Rock to a "strong-buy" rating in a research note on Tuesday, June 3rd. Raymond James Financial set a $53.00 price objective on Scholar Rock and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $50.00 price objective on shares of Scholar Rock in a research note on Wednesday, June 18th. Three analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to data from MarketBeat.com, Scholar Rock currently has a consensus rating of "Buy" and an average price target of $46.20.
View Our Latest Research Report on SRRK
Scholar Rock Price Performance
Scholar Rock stock traded up $1.74 during midday trading on Tuesday, reaching $32.58. 3,267,274 shares of the stock traded hands, compared to its average volume of 1,693,980. The stock's fifty day moving average is $34.57 and its 200-day moving average is $33.05. Scholar Rock has a 12 month low of $6.76 and a 12 month high of $46.98. The stock has a market cap of $3.13 billion, a P/E ratio of -11.20 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.
Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.98) EPS for the quarter, missing analysts' consensus estimates 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, equities research analysts anticipate that Scholar Rock will post -2.42 EPS for the current year.
Insider Transactions at Scholar Rock
In other 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 value of $445,662.72. Following the sale, the director directly owned 24,070 shares in the company, valued at approximately $963,281.40. This represents a 31.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Katie Peng sold 1,006 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $32.53, for a total value of $32,725.18. Following the completion of the sale, the director owned 33,914 shares in the company, valued at approximately $1,103,222.42. The trade was a 2.88% 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 worth $1,413,748. 13.30% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. CWM LLC increased its holdings in 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 period. Federated Hermes Inc. purchased a new position in Scholar Rock during the 1st quarter worth $71,000. GF Fund Management CO. LTD. increased its holdings in Scholar Rock by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 2,396 shares of the company's stock worth $77,000 after purchasing an additional 430 shares during the period. Strs Ohio purchased a new position in Scholar Rock during the 1st quarter worth $77,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in Scholar Rock during the 2nd quarter worth $94,000. 91.08% of the stock is currently owned by hedge funds and other institutional investors.
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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