Scholar Rock (NASDAQ:SRRK) Stock Rating Upgraded by Canaccord Genuity Group

Key Points

• Canaccord Genuity upgraded Scholar Rock to a strong-buy, joining other firms that have issued buy/strong-buy ratings and contributing to an average analyst rating of Buy with an average price target of $55.40.
• Shares opened at $48.10 with a market capitalization of $5.53 billion, a 12‑month range of $27.07–$51.63, negative P/E (loss-making) metrics, and 50‑/200‑day moving averages of $46.17 and $42.20 respectively.
• CEO David Hallal sold 30,615 shares for about $1.52M to cover tax obligations, insiders sold 117,634 shares worth $5.67M over the last 90 days (insiders own 13.30%), and the company reported quarterly EPS of ($0.76) beating estimates of ($0.86).

Scholar Rock (NASDAQ:SRRK - Get Free Report) was upgraded by stock analysts at Canaccord Genuity Group to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

Several other research firms have also commented on SRRK. HC Wainwright reissued a "buy" rating and set a $58.00 target price on shares of Scholar Rock in a research note on Tuesday, March 3rd. Wedbush increased their target price on shares of Scholar Rock from $56.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday, April 1st. Raymond James Financial reissued a "strong-buy" rating on shares of Scholar Rock in a research note on Tuesday, March 3rd. Barclays upped their target price on Scholar Rock from $52.00 to $53.00 and gave the company an "overweight" rating in a report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Scholar Rock in a report on Thursday, January 22nd. Five analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $55.40.

Scholar Rock Stock Performance

Shares of SRRK opened at $48.10 on Monday. The firm's 50 day moving average is $46.17 and its 200-day moving average is $42.20. The stock has a market capitalization of $5.53 billion, a P/E ratio of -14.02 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 6.95 and a quick ratio of 6.95. Scholar Rock has a 12-month low of $27.07 and a 12-month high of $51.63.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.86) by $0.10. During the same quarter last year, the firm posted ($0.64) earnings per share. Equities research analysts anticipate that Scholar Rock will post -3.13 EPS for the current fiscal year.

Insider Buying and Selling at Scholar Rock

In other news, CEO David Hallal sold 30,615 shares of the company's stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $49.57, for a total transaction of $1,517,585.55. Following the completion of the sale, the chief executive officer directly owned 1,639,034 shares of the company's stock, valued at $81,246,915.38. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mo Qatanani sold 8,484 shares of the company's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $47.07, for a total value of $399,341.88. Following the sale, the insider directly owned 98,445 shares of the company's stock, valued at approximately $4,633,806.15. This represents a 7.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 117,634 shares of company stock valued at $5,673,786 over the last 90 days. 13.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds have recently bought and sold shares of SRRK. IFP Advisors Inc lifted its stake in Scholar Rock by 294.1% in the 4th quarter. IFP Advisors Inc now owns 603 shares of the company's stock worth $27,000 after acquiring an additional 450 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Scholar Rock in the 4th quarter worth about $30,000. Summit Securities Group LLC purchased a new stake in Scholar Rock in the 4th quarter worth about $31,000. Ramirez Asset Management Inc. purchased a new stake in Scholar Rock in the 3rd quarter worth about $37,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Scholar Rock by 151.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company's stock worth $38,000 after acquiring an additional 525 shares in the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

About Scholar Rock

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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