Scholar Rock Holding Corporation (NASDAQ:SRRK) Receives $54.93 Average Price Target from Analysts
by Doug Wharley · The Cerbat GemShares of Scholar Rock Holding Corporation (NASDAQ:SRRK – Get Free Report) have earned a consensus recommendation of “Buy” from the seventeen analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have assigned a buy recommendation and four have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $54.9286.
A number of brokerages recently issued reports on SRRK. Truist Financial raised their price target on Scholar Rock from $44.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a research report on Thursday, January 22nd. HC Wainwright reiterated a “buy” rating and issued a $58.00 target price on shares of Scholar Rock in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. increased their target price on Scholar Rock from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, March 16th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Scholar Rock in a research note on Tuesday, March 3rd.
Read Our Latest Research Report on Scholar Rock
Scholar Rock Price Performance
Shares of SRRK opened at $49.96 on Friday. The company has a market cap of $5.74 billion, a PE ratio of -14.57 and a beta of 0.68. The business has a fifty day moving average of $46.16 and a 200 day moving average of $42.03. Scholar Rock has a 52-week low of $27.07 and a 52-week high of $51.63. The company has a quick ratio of 6.95, a current ratio of 6.95 and a debt-to-equity ratio of 0.41.
Scholar Rock (NASDAQ:SRRK – Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.10. During the same period in the prior year, the company earned ($0.64) earnings per share. On average, sell-side analysts expect that Scholar Rock will post -2.42 EPS for the current year.
Insiders Place Their Bets
In other Scholar Rock news, insider Caryn Parlavecchio sold 9,035 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $46.53, for a total value of $420,398.55. Following the sale, the insider owned 169,087 shares in the company, valued at $7,867,618.11. This trade represents a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Junlin Ho sold 9,580 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $46.53, for a total value of $445,757.40. Following the completion of the sale, the general counsel owned 241,545 shares in the company, valued at approximately $11,239,088.85. The trade was a 3.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 54,143 shares of company stock worth $2,526,537. 13.30% of the stock is currently owned by company insiders.
Institutional Trading of Scholar Rock
Hedge funds and other institutional investors have recently bought and sold shares of the business. IFP Advisors Inc increased its stake in shares of Scholar Rock by 294.1% during the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock valued at $27,000 after buying an additional 450 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Scholar Rock during the fourth quarter valued at $30,000. Summit Securities Group LLC purchased a new position in shares of Scholar Rock during the fourth quarter valued at $31,000. Ramirez Asset Management Inc. purchased a new position in shares of Scholar Rock during the third quarter valued at $37,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Scholar Rock by 151.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock valued at $38,000 after buying an additional 525 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.
Scholar Rock Company Profile
Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company’s research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock’s approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.
The company’s lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).