Scholar Rock (NASDAQ:SRRK) Upgraded at Leerink Partnrs

Key Points

• Scholar Rock has been upgraded to a "strong-buy" rating by Leerink Partners, with a price target set at $51.00 for the stock.
• The company reported a loss of ($0.98) earnings per share in its last quarter, missing expectations by ($0.32).
• Institutional investors own 91.08% of Scholar Rock's stock, indicating strong backing from major financial entities.

Scholar Rock (NASDAQ:SRRK - Get Free Report) was upgraded by investment analysts at Leerink Partnrs to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts also recently weighed in on SRRK. Leerink Partners assumed coverage on Scholar Rock in a research report on Monday. They set an "outperform" rating and a $51.00 price target on the stock. Raymond James Financial set a $53.00 target price on shares of Scholar Rock and gave the stock a "strong-buy" rating in a research note on Wednesday, July 30th. Jefferies Financial Group began coverage on shares of Scholar Rock in a research note on Thursday, August 21st. They set a "buy" rating and a $50.00 target price on the stock. BMO Capital Markets lowered their target price on shares of 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, Wedbush reissued an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a research note on Wednesday, June 18th. Three investment analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $46.33.

Scholar Rock Price Performance

Shares of SRRK opened at $33.67 on Monday. The business's 50-day moving average is $35.08 and its two-hundred day moving average is $33.20. The company has a market capitalization of $3.24 billion, a P/E ratio of -11.57 and a beta of 0.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.33 and a current ratio of 6.33. Scholar Rock has a fifty-two week low of $6.76 and a fifty-two week high of $46.98.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same period in the prior year, the business earned ($0.60) earnings per share. Research analysts predict that Scholar Rock will post -2.42 earnings per share for the current year.

Insider Buying and Selling

In other Scholar Rock news, insider Mo Qatanani sold 24,066 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $34.44, for a total value of $828,833.04. Following the transaction, the insider directly owned 115,495 shares of the company's stock, valued at $3,977,647.80. This trade represents a 17.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey S. Flier sold 20,316 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $32.24, for a total transaction of $654,987.84. Following the sale, the director owned 24,070 shares of the company's stock, valued at $776,016.80. This represents a 45.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,654 shares of company stock worth $2,299,310 over the last three months. Corporate insiders own 13.30% of the company's stock.

Institutional Trading of Scholar Rock

A number of hedge funds and other institutional investors have recently made changes to their positions in SRRK. Wellington Management Group LLP increased its holdings in shares of Scholar Rock by 763.8% during the 4th quarter. Wellington Management Group LLP now owns 1,725,622 shares of the company's stock worth $74,581,000 after buying an additional 1,525,845 shares during the last quarter. Vestal Point Capital LP acquired a new stake in Scholar Rock in the 1st quarter valued at approximately $41,795,000. Norges Bank acquired a new stake in Scholar Rock in the 2nd quarter valued at approximately $41,628,000. RA Capital Management L.P. increased its holdings in Scholar Rock by 6,351.3% in the 1st quarter. RA Capital Management L.P. now owns 1,136,453 shares of the company's stock valued at $36,537,000 after purchasing an additional 1,118,837 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in Scholar Rock in the 2nd quarter valued at approximately $33,062,000. Institutional investors and hedge funds 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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