Scholar Rock’s (SRRK) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a report issued on Thursday,RTT News reports. The brokerage currently has a $47.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on SRRK. BMO Capital Markets increased their price objective on Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. HC Wainwright raised their price target on Scholar Rock from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Piper Sandler raised their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, Truist Financial boosted their price target on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $40.43.

Scholar Rock Stock Performance

Shares of NASDAQ:SRRK opened at $40.49 on Thursday. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $37.85 and a 200-day moving average price of $21.74. The company has a market cap of $3.79 billion, a price-to-earnings ratio of -17.23 and a beta of 0.52. Scholar Rock has a 12 month low of $6.76 and a 12 month high of $46.19.

Insiders Place Their Bets

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the sale, the insider now directly owns 10,850,005 shares of the company’s stock, valued at approximately $417,616,692.45. The trade was a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds have recently bought and sold shares of SRRK. GAMMA Investing LLC raised its holdings in Scholar Rock by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock worth $34,000 after buying an additional 269 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Scholar Rock by 1.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock worth $310,000 after acquiring an additional 379 shares during the last quarter. Exome Asset Management LLC bought a new position in Scholar Rock in the 3rd quarter valued at approximately $1,115,000. Barclays PLC boosted its stake in Scholar Rock by 103.4% during the 3rd quarter. Barclays PLC now owns 165,449 shares of the company’s stock valued at $1,324,000 after purchasing an additional 84,118 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Scholar Rock by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,543,025 shares of the company’s stock worth $12,361,000 after purchasing an additional 120,489 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

Scholar Rock Company Profile

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.