Scholar Rock Holding Co. (NASDAQ:SRRK – Get Free Report) traded up 9.5% during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $18.00 to $31.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Scholar Rock traded as high as $29.18 and last traded at $29.02. 1,205,993 shares traded hands during trading, an increase of 7% from the average session volume of 1,130,772 shares. The stock had previously closed at $26.51.
SRRK has been the topic of a number of other reports. Wedbush increased their price target on shares of Scholar Rock from $27.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. BMO Capital Markets increased their price objective on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday. Finally, HC Wainwright increased their price objective on Scholar Rock from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Scholar Rock currently has an average rating of “Buy” and an average target price of $29.88.
Read Our Latest Report on Scholar Rock
Insider Buying and Selling
Hedge Funds Weigh In On Scholar Rock
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in shares of Scholar Rock by 31.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,430,764 shares of the company’s stock valued at $26,898,000 after acquiring an additional 342,690 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Scholar Rock during the fourth quarter valued at $1,347,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Scholar Rock by 66.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 13,868 shares of the company’s stock valued at $246,000 after acquiring an additional 5,522 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Scholar Rock during the first quarter valued at $383,000. Finally, Jennison Associates LLC increased its holdings in shares of Scholar Rock by 1.0% during the first quarter. Jennison Associates LLC now owns 138,458 shares of the company’s stock valued at $2,459,000 after acquiring an additional 1,409 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.
Scholar Rock Price Performance
The company has a quick ratio of 6.04, a current ratio of 6.04 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average price of $11.11 and a two-hundred day moving average price of $11.18. The stock has a market capitalization of $2.27 billion, a P/E ratio of -13.65 and a beta of 0.82.
Scholar Rock (NASDAQ:SRRK – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.01. During the same period in the prior year, the company earned ($0.47) earnings per share. On average, analysts expect that Scholar Rock Holding Co. will post -2.38 EPS for the current year.
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.
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