Scholar Rock (NASDAQ:SRRK) Given New $47.00 Price Target at Wedbush

Scholar Rock (NASDAQ:SRRK) had its price objective hoisted by Wedbush from $40.00 to $47.00 in a research report released on Monday morning, MarketBeat Ratings reports. Wedbush currently has an outperform rating on the stock.

A number of other research analysts have also recently commented on SRRK. BMO Capital Markets raised their target price on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Truist Financial raised their target price on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday. HC Wainwright raised their target price on Scholar Rock from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. raised their target price on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Piper Sandler raised their price objective on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Scholar Rock has a consensus rating of “Buy” and an average target price of $39.00.

Scholar Rock Trading Up 26.1 %

NASDAQ SRRK opened at $37.72 on Monday. The stock has a market cap of $3.53 billion, a P/E ratio of -16.05 and a beta of 0.47. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The stock has a 50 day simple moving average of $23.12 and a two-hundred day simple moving average of $14.21. Scholar Rock has a fifty-two week low of $6.76 and a fifty-two week high of $43.38.

Insider Activity at Scholar Rock

In other Scholar Rock news, Director Srinivas Akkaraju sold 1,175,713 shares of Scholar Rock stock in a transaction on Monday, October 7th. The stock was sold at an average price of $29.25, for a total value of $34,389,605.25. Following the completion of the sale, the director now owns 5,612,896 shares of the company’s stock, valued at approximately $164,177,208. This trade represents a 17.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tracey Sacco sold 30,000 shares of Scholar Rock stock in a transaction on Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the completion of the sale, the insider now directly owns 49,285 shares of the company’s stock, valued at approximately $1,262,681.70. The trade was a 37.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,413,889 shares of company stock valued at $40,652,551 in the last 90 days. Corporate insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

Institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Scholar Rock by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after purchasing an additional 514 shares in the last quarter. Quarry LP boosted its stake in shares of Scholar Rock by 3,443.3% in the 3rd quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after buying an additional 4,373 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Scholar Rock in the 2nd quarter worth $98,000. Hsbc Holdings PLC purchased a new position in shares of Scholar Rock in the 2nd quarter worth $100,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Scholar Rock in the 2nd quarter worth $103,000. Institutional investors own 91.08% of the company’s stock.

About Scholar Rock

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.