Wedbush Reaffirms “Outperform” Rating for Scholar Rock (NASDAQ:SRRK)

Scholar Rock (NASDAQ:SRRK)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a research report issued on Thursday,RTT News reports. They presently have a $47.00 price objective on the stock. Wedbush’s price target suggests a potential upside of 15.06% from the company’s current price.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Scholar Rock from $18.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. HC Wainwright increased their price objective on shares of Scholar Rock from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Truist Financial lifted their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. BMO Capital Markets increased their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Finally, Piper Sandler upped 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 investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $40.43.

Scholar Rock Stock Up 0.9 %

Shares of SRRK stock traded up $0.37 during midday trading on Thursday, reaching $40.85. 883,599 shares of the stock were exchanged, compared to its average volume of 914,440. 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 1 year low of $6.76 and a 1 year high of $46.19. The firm has a market cap of $3.82 billion, a PE ratio of -17.38 and a beta of 0.52. The company’s 50 day moving average is $37.36 and its two-hundred day moving average is $21.29.

Insider Activity at Scholar Rock

In other news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $38.49, for a total value of $15,759,076.17. Following the completion of the transaction, the insider now owns 10,850,005 shares of the company’s stock, valued at $417,616,692.45. This represents a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 19.20% of the stock is currently owned by company insiders.

Institutional Trading of Scholar Rock

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in Scholar Rock by 51.8% during the 4th quarter. GAMMA Investing LLC now owns 788 shares of the company’s stock valued at $34,000 after buying an additional 269 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Scholar Rock by 1.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company’s stock worth $310,000 after acquiring an additional 379 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Scholar Rock by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $25,000 after acquiring an additional 514 shares during the period. Rice Hall James & Associates LLC raised its position in Scholar Rock by 3.6% during the second quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company’s stock valued at $383,000 after acquiring an additional 1,594 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its position in shares of Scholar Rock by 3.0% in the second quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company’s stock worth $497,000 after acquiring an additional 1,718 shares during the period. Hedge funds and other 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.