Scholar Rock (NASDAQ:SRRK) Given Outperform Rating at Wedbush

Wedbush reissued their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a research note issued to investors on Tuesday morning, RTT News reports. They currently have a $23.00 price objective on the stock. Wedbush also issued estimates for Scholar Rock’s Q2 2024 earnings at ($0.72) EPS, Q3 2024 earnings at ($0.71) EPS, Q4 2024 earnings at ($0.60) EPS, FY2024 earnings at ($2.60) EPS, Q1 2025 earnings at ($0.61) EPS, Q2 2025 earnings at ($0.60) EPS, Q3 2025 earnings at ($0.59) EPS, Q4 2025 earnings at ($0.50) EPS, FY2025 earnings at ($2.30) EPS, FY2026 earnings at ($1.38) EPS, FY2027 earnings at $0.56 EPS and FY2028 earnings at $2.89 EPS.

SRRK has been the topic of several other research reports. Raymond James assumed coverage on shares of Scholar Rock in a report on Thursday, March 28th. They issued a strong-buy rating and a $30.00 target price on the stock. HC Wainwright reiterated a buy rating and set a $30.00 target price on shares of Scholar Rock in a research report on Tuesday, March 19th. Piper Sandler reissued an overweight rating and issued a $28.00 price target on shares of Scholar Rock in a report on Tuesday, March 26th. Finally, Truist Financial restated a buy rating and issued a $20.00 price target on shares of Scholar Rock in a research note on Wednesday, April 3rd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Scholar Rock presently has an average rating of Buy and an average target price of $25.17.

Scholar Rock Trading Down 3.6 %

NASDAQ SRRK opened at $14.03 on Tuesday. Scholar Rock has a one year low of $5.56 and a one year high of $21.17. The firm has a market cap of $1.12 billion, a PE ratio of -6.96 and a beta of 0.94. The firm’s fifty day moving average is $15.13 and its two-hundred day moving average is $14.95. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.80 and a current ratio of 8.80.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same quarter in the previous year, the firm earned ($0.46) earnings per share. Analysts expect that Scholar Rock will post -2.01 earnings per share for the current year.

Insider Activity at Scholar Rock

In other Scholar Rock news, insider Mo Qatanani sold 2,512 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $39,538.88. Following the sale, the insider now owns 147,019 shares of the company’s stock, valued at $2,314,079.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Scholar Rock news, CEO Jay T. Backstrom sold 11,614 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $182,804.36. Following the sale, the chief executive officer now owns 352,671 shares in the company, valued at approximately $5,551,041.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mo Qatanani sold 2,512 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $39,538.88. Following the transaction, the insider now directly owns 147,019 shares of the company’s stock, valued at approximately $2,314,079.06. The disclosure for this sale can be found here. Insiders sold 22,359 shares of company stock valued at $351,931 in the last ninety days. Corporate insiders own 26.20% of the company’s stock.

Institutional Trading of Scholar Rock

A number of large investors have recently made changes to their positions in SRRK. Amalgamated Bank raised its position in shares of Scholar Rock by 52.8% in the third quarter. Amalgamated Bank now owns 4,217 shares of the company’s stock valued at $30,000 after buying an additional 1,458 shares during the last quarter. Silverarc Capital Management LLC acquired a new stake in shares of Scholar Rock during the third quarter worth $69,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Scholar Rock in the third quarter valued at $88,000. SG Americas Securities LLC acquired a new position in Scholar Rock in the third quarter valued at $153,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in Scholar Rock by 479.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company’s stock valued at $157,000 after purchasing an additional 6,905 shares during the last quarter. Institutional investors and hedge funds 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.