Scholar Rock Holding Co. (NASDAQ:SRRK) Given Consensus Rating of “Buy” by Brokerages

Scholar Rock Holding Co. (NASDAQ:SRRK) has received an average recommendation of “Buy” from the seven research firms that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $26.00.

A number of analysts recently commented on SRRK shares. Wedbush reiterated an “outperform” rating and issued a $23.00 target price on shares of Scholar Rock in a report on Tuesday, May 7th. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Scholar Rock in a report on Tuesday, June 25th. Finally, BMO Capital Markets boosted their target price on shares of Scholar Rock from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th.

Scholar Rock Trading Down 3.9 %

Shares of NASDAQ:SRRK opened at $8.71 on Wednesday. The company has a market cap of $694.62 million, a PE ratio of -4.17 and a beta of 0.85. The company’s 50-day moving average price is $8.91 and its 200 day moving average price is $12.81. Scholar Rock has a fifty-two week low of $5.93 and a fifty-two week high of $21.17. The company has a quick ratio of 6.58, a current ratio of 6.58 and a debt-to-equity ratio of 0.24.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). During the same period in the prior year, the company posted ($0.46) EPS. Sell-side analysts anticipate that Scholar Rock will post -2.4 earnings per share for the current year.

Insider Transactions at Scholar Rock

In other news, General Counsel Junlin Ho sold 4,695 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $8.98, for a total value of $42,161.10. Following the completion of the sale, the general counsel now directly owns 204,076 shares in the company, valued at $1,832,602.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Junlin Ho sold 4,695 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $42,161.10. Following the completion of the transaction, the general counsel now directly owns 204,076 shares in the company, valued at approximately $1,832,602.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Edward H. Myles sold 9,458 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $8.98, for a total transaction of $84,932.84. Following the transaction, the chief financial officer now owns 201,518 shares of the company’s stock, valued at $1,809,631.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,468 shares of company stock worth $147,883. 26.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds and other institutional investors have recently made changes to their positions in SRRK. Amalgamated Bank lifted its holdings in shares of Scholar Rock by 15.5% during the 4th quarter. Amalgamated Bank now owns 4,869 shares of the company’s stock worth $92,000 after acquiring an additional 652 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of Scholar Rock during the 2nd quarter worth about $98,000. China Universal Asset Management Co. Ltd. increased its position in shares of Scholar Rock by 479.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,346 shares of the company’s stock worth $157,000 after purchasing an additional 6,905 shares in the last quarter. DNB Asset Management AS increased its position in shares of Scholar Rock by 28.5% during the 2nd quarter. DNB Asset Management AS now owns 19,812 shares of the company’s stock worth $165,000 after purchasing an additional 4,390 shares in the last quarter. Finally, Spire Wealth Management acquired a new stake in shares of Scholar Rock during the 4th quarter worth about $178,000. 91.08% of the stock is owned by institutional investors.

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.