Scholar Rock (NASDAQ:SRRK) Shares Climb 2.8% – Should You Buy?

Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) were up 2.8% during mid-day trading on Wednesday. The stock traded as high as $43.35 and last traded at $43.6550. 77,815 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 1,422,076 shares. The stock had previously closed at $42.45.

Analysts Set New Price Targets

Several equities analysts have weighed in on SRRK shares. Citigroup lifted their target price on Scholar Rock from $60.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, September 14th. Piper Sandler upped their target price on shares of Scholar Rock from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 15th. Wedbush reiterated an “outperform” rating and set a $64.00 target price on shares of Scholar Rock in a report on Tuesday, September 15th. BMO Capital Markets boosted their price target on shares of Scholar Rock from $76.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, September 14th. Finally, Evercore reissued an “outperform” rating and set a $72.00 price objective on shares of Scholar Rock in a research report on Tuesday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.67.

Scholar Rock Stock Performance

The company has a quick ratio of 7.02, a current ratio of 7.02 and a debt-to-equity ratio of 0.77. The business’s fifty day simple moving average is $51.73 and its two-hundred day simple moving average is $50.00. The company has a market cap of $5.14 billion, a price-to-earnings ratio of -12.23 and a beta of 0.61.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Thursday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.84). During the same quarter last year, the firm posted ($0.98) earnings per share. On average, equities analysts predict that Scholar Rock Holding Corporation will post -3.23 EPS for the current year.

Hedge Funds Weigh In On Scholar Rock

Hedge funds have recently made changes to their positions in the company. Allworth Financial LP purchased a new stake in shares of Scholar Rock in the 2nd quarter valued at about $35,000. PNC Financial Services Group Inc. grew its stake in Scholar Rock by 92.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,270 shares of the company’s stock worth $62,000 after buying an additional 610 shares during the last quarter. GAMMA Investing LLC grew its stake in Scholar Rock by 20.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,406 shares of the company’s stock worth $77,000 after buying an additional 242 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Scholar Rock during the second quarter worth approximately $99,000. Finally, Persistent Asset Partners Ltd acquired a new position in Scholar Rock during the second quarter worth approximately $137,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Company Profile

Scholar Rock Holding Corporation (NASDAQ: SRRK) is a clinical-stage biopharmaceutical company focused on developing medicines that selectively target the activation of growth factors. The company’s approach is designed to modulate biologic pathways in specific tissues while potentially limiting effects elsewhere in the body.

Scholar Rock’s lead product candidate is apitegromab, a monoclonal antibody designed to inhibit the activation of myostatin, a protein that negatively regulates muscle growth.