HC Wainwright Issues Positive Forecast for Scholar Rock (NASDAQ:SRRK) Stock Price

Scholar Rock (NASDAQ:SRRK) had its target price hoisted by HC Wainwright from $35.00 to $40.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Scholar Rock’s Q4 2024 earnings at ($0.67) EPS, FY2024 earnings at ($2.54) EPS, Q1 2025 earnings at ($0.67) EPS, Q2 2025 earnings at ($0.68) EPS, Q3 2025 earnings at ($0.68) EPS, Q4 2025 earnings at ($0.62) EPS, FY2025 earnings at ($2.65) EPS, FY2026 earnings at ($1.68) EPS, FY2027 earnings at ($1.00) EPS and FY2028 earnings at ($0.10) EPS.

A number of other brokerages also recently issued reports on SRRK. Piper Sandler boosted their price target on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Wedbush restated an “outperform” rating and set a $37.00 price target on shares of Scholar Rock in a report on Monday, November 4th. BMO Capital Markets boosted their price target on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. boosted their price target on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $34.00.

Scholar Rock Stock Up 0.4 %

SRRK opened at $27.50 on Tuesday. Scholar Rock has a 12 month low of $6.76 and a 12 month high of $35.38. The company has a market cap of $2.57 billion, a P/E ratio of -11.70 and a beta of 0.47. The company has a current ratio of 3.88, a quick ratio of 6.04 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $20.24 and its 200-day moving average price is $13.53.

Insider Transactions at Scholar Rock

In related news, insider Tracey Sacco sold 30,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 49,285 shares in the company, valued at $1,262,681.70. This represents a 37.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Edward H. Myles sold 206,240 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $26.56, for a total value of $5,477,734.40. Following the completion of the sale, the chief financial officer now owns 161,088 shares in the company, valued at $4,278,497.28. The trade was a 56.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,413,889 shares of company stock valued at $40,652,551. Corporate insiders own 19.20% of the company’s stock.

Institutional Trading of Scholar Rock

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake 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 buying an additional 514 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Scholar Rock in the 2nd quarter worth approximately $98,000. Hsbc Holdings PLC purchased a new stake in Scholar Rock during the 2nd quarter valued at $100,000. Point72 DIFC Ltd purchased a new stake in Scholar Rock during the 2nd quarter valued at $103,000. Finally, Creative Planning purchased a new stake in Scholar Rock during the 3rd quarter valued at $115,000. Hedge funds and other institutional investors 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.