Scholar Rock (NASDAQ:SRRK) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Scholar Rock (NASDAQ:SRRK) in a research note released on Wednesday morning, Benzinga reports. HC Wainwright currently has a $30.00 price objective on the stock.

A number of other equities research analysts have also issued reports on the stock. Truist Financial reaffirmed a buy rating and set a $20.00 target price on shares of Scholar Rock in a report on Wednesday, April 3rd. Raymond James assumed coverage on shares of Scholar Rock in a research note on Thursday, March 28th. They set a strong-buy rating and a $30.00 price objective for the company. Piper Sandler reissued an overweight rating and issued a $28.00 target price on shares of Scholar Rock in a research note on Tuesday, March 26th. Finally, Wedbush restated an outperform rating and issued a $23.00 price target on shares of Scholar Rock in a research report on Tuesday. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Scholar Rock has a consensus rating of Buy and an average target price of $25.17.

Scholar Rock Stock Performance

SRRK opened at $14.50 on Wednesday. The stock has a market cap of $1.16 billion, a P/E ratio of -7.29 and a beta of 0.94. Scholar Rock has a 1 year low of $5.56 and a 1 year high of $21.17. The firm has a fifty day moving average price of $15.15 and a 200 day moving average price of $14.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.80 and a quick ratio of 8.80.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same period in the previous year, the business posted ($0.46) EPS. Equities research analysts anticipate that Scholar Rock will post -2.01 earnings per share for the current year.

Insider Activity

In other Scholar Rock news, 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 transaction of $39,538.88. Following the completion of 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 legal filing with the SEC, which is available through this hyperlink. In other news, insider Mo Qatanani sold 2,512 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $39,538.88. Following the sale, the insider now directly owns 147,019 shares of the company’s stock, valued at approximately $2,314,079.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Junlin Ho sold 3,489 shares of Scholar Rock stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $54,916.86. Following the completion of the sale, the general counsel now owns 208,771 shares of the company’s stock, valued at approximately $3,286,055.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,359 shares of company stock valued at $351,931. 26.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Scholar Rock

Several institutional investors have recently bought and sold shares of SRRK. Polar Capital Holdings Plc acquired a new stake in Scholar Rock during the 3rd quarter worth approximately $10,664,000. Price T Rowe Associates Inc. MD grew its stake in Scholar Rock by 16.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock worth $156,444,000 after purchasing an additional 1,149,519 shares in the last quarter. Eventide Asset Management LLC acquired a new position in Scholar Rock during the 4th quarter worth $18,287,000. Goldman Sachs Group Inc. raised its position in Scholar Rock by 31.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,430,764 shares of the company’s stock valued at $26,898,000 after purchasing an additional 342,690 shares in the last quarter. Finally, Redmile Group LLC grew its position in shares of Scholar Rock by 7.5% during the third quarter. Redmile Group LLC now owns 4,733,248 shares of the company’s stock worth $33,606,000 after buying an additional 329,408 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

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.