Scholar Rock’s (SRRK) Outperform Rating Reaffirmed at Wedbush

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating reaffirmed by Wedbush in a report issued on Wednesday,RTT News reports. They presently have a $47.00 target price on the stock. Wedbush’s price objective would indicate a potential upside of 16.34% from the stock’s previous close.

SRRK has been the subject of several other research reports. HC Wainwright upped their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price objective on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Piper Sandler raised their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Truist Financial lifted their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, BMO Capital Markets increased their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $40.43.

Scholar Rock Stock Performance

Shares of SRRK stock opened at $40.40 on Wednesday. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.63. Scholar Rock has a 12 month low of $6.76 and a 12 month high of $46.98. The company has a market cap of $3.78 billion, a P/E ratio of -17.19 and a beta of 0.52. The firm has a fifty day moving average price of $42.21 and a 200 day moving average price of $25.08.

Insiders Place Their Bets

In other news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $38.49, for a total transaction of $15,759,076.17. Following the completion of the sale, the insider now directly owns 10,850,005 shares of the company’s stock, valued at $417,616,692.45. The trade was a 3.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Edward H. Myles sold 12,539 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $44.20, for a total value of $554,223.80. Following the sale, the chief financial officer now directly owns 148,549 shares of the company’s stock, valued at approximately $6,565,865.80. This trade represents a 7.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 458,974 shares of company stock valued at $17,948,788 in the last ninety days. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

A number of large investors have recently modified their holdings of SRRK. Wellington Management Group LLP lifted its stake in shares of Scholar Rock by 16.2% in the third quarter. Wellington Management Group LLP now owns 199,777 shares of the company’s stock worth $1,600,000 after acquiring an additional 27,801 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Scholar Rock by 9.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,793 shares of the company’s stock valued at $4,027,000 after buying an additional 42,139 shares during the last quarter. Barclays PLC grew its position in shares of Scholar Rock by 103.4% during the third quarter. Barclays PLC now owns 165,449 shares of the company’s stock worth $1,324,000 after buying an additional 84,118 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of Scholar Rock in the second quarter worth $6,223,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Scholar Rock by 7.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,795 shares of the company’s stock valued at $759,000 after acquiring an additional 6,269 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

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.