Scholar Rock’s (SRRK) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Scholar Rock (NASDAQ:SRRK) in a report released on Tuesday,Benzinga reports. They currently have a $65.00 price objective on the stock.

A number of other research firms have also weighed in on SRRK. Cantor Fitzgerald restated an “overweight” rating on shares of Scholar Rock in a research note on Thursday, June 18th. Wedbush reiterated an “outperform” rating and set a $64.00 price target on shares of Scholar Rock in a report on Friday, August 21st. BMO Capital Markets reissued an “outperform” rating and set a $76.00 price target on shares of Scholar Rock in a research report on Friday, August 7th. Citigroup raised their price target on shares of Scholar Rock from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Scholar Rock from $56.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Four analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Scholar Rock presently has an average rating of “Buy” and an average target price of $58.77.

Scholar Rock Trading Up 1.9%

NASDAQ SRRK opened at $55.67 on Tuesday. Scholar Rock has a 12 month low of $27.07 and a 12 month high of $61.76. The stock has a market cap of $6.78 billion, a P/E ratio of -16.14 and a beta of 0.67. The stock’s fifty day moving average price is $53.55 and its 200-day moving average price is $49.47. The company has a current ratio of 7.02, a quick ratio of 7.02 and a debt-to-equity ratio of 0.77.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.84). During the same period in the previous year, the business posted ($0.98) earnings per share. As a group, equities analysts forecast that Scholar Rock will post -3.23 EPS for the current fiscal year.

Insider Buying and Selling at Scholar Rock

In other news, Director Kristina Burow sold 3,053 shares of Scholar Rock stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total value of $164,068.22. Following the completion of the sale, the director directly owned 114,657 shares in the company, valued at $6,161,667.18. The trade was a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey S. Flier sold 3,053 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $53.88, for a total transaction of $164,495.64. Following the transaction, the director directly owned 27,856 shares of the company’s stock, valued at $1,500,881.28. The trade was a 9.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 17,149 shares of company stock worth $923,108. 10.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRRK. IFP Advisors Inc raised its stake in Scholar Rock by 294.1% during the 4th quarter. IFP Advisors Inc now owns 603 shares of the company’s stock valued at $27,000 after buying an additional 450 shares during the last quarter. Allworth Financial LP purchased a new position in shares of Scholar Rock in the 2nd quarter worth $35,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Scholar Rock in the 4th quarter worth $30,000. Summit Securities Group LLC bought a new stake in shares of Scholar Rock in the fourth quarter worth $31,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Scholar Rock by 151.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock worth $38,000 after acquiring an additional 525 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Company Profile

Scholar Rock, Inc is a biopharmaceutical company focused on developing medicines that selectively target growth factors in their latent forms. The company’s approach is designed to modulate the activation of growth factors in specific tissues, with the goal of addressing diseases in which these biological pathways contribute to impaired function or abnormal tissue growth.

Scholar Rock’s lead program is apitegromab, a monoclonal antibody designed to inhibit the activation of myostatin. The company has studied apitegromab as a potential treatment for spinal muscular atrophy, a genetic neuromuscular disorder that causes progressive muscle weakness and loss of motor function.