Brokerages Set Scholar Rock Holding Co. (NASDAQ:SRRK) Target Price at $33.29

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report) have earned an average rating of "Buy" from the seven research firms that are covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $33.29.

A number of equities analysts have recently commented on the company. BMO Capital Markets boosted their price target on Scholar Rock from $34.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, October 11th. HC Wainwright boosted their target price on Scholar Rock from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Monday, October 7th. Wedbush restated an "outperform" rating and issued a $37.00 price target on shares of Scholar Rock in a research note on Monday. Piper Sandler upped their price objective 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of Scholar Rock from $18.00 to $31.00 and gave the company an "overweight" rating in a research note on Monday, October 14th.

Insider Activity

In related news, Director Srinivas Akkaraju sold 1,175,713 shares of the business's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $29.25, for a total value of $34,389,605.25. Following the sale, the director now owns 5,612,896 shares of the company's stock, valued at $164,177,208. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Srinivas Akkaraju sold 1,175,713 shares of Scholar Rock stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $29.25, for a total value of $34,389,605.25. Following the transaction, the director now directly owns 5,612,896 shares of the company's stock, valued at $164,177,208. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward H. Myles sold 206,240 shares of the company's stock in a transaction that occurred on Monday, October 7th. The shares were 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,415,340 shares of company stock valued at $40,666,088. Insiders own 19.20% of the company's stock.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds have recently bought and sold shares of the company. Redmile Group LLC lifted its stake in Scholar Rock by 0.3% in the first quarter. Redmile Group LLC now owns 6,419,610 shares of the company's stock valued at $114,012,000 after buying an additional 17,105 shares during the period. Vanguard Group Inc. increased its stake in shares of Scholar Rock by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company's stock valued at $52,739,000 after acquiring an additional 114,550 shares in the last quarter. Millennium Management LLC lifted its position in shares of Scholar Rock by 159.2% during the 2nd quarter. Millennium Management LLC now owns 925,584 shares of the company's stock valued at $7,710,000 after acquiring an additional 568,512 shares during the period. Hood River Capital Management LLC boosted its stake in Scholar Rock by 5.1% during the second quarter. Hood River Capital Management LLC now owns 832,792 shares of the company's stock worth $6,937,000 after acquiring an additional 40,745 shares in the last quarter. Finally, abrdn plc grew its holdings in Scholar Rock by 28.2% in the third quarter. abrdn plc now owns 748,489 shares of the company's stock worth $5,995,000 after purchasing an additional 164,715 shares during the period. Institutional investors own 91.08% of the company's stock.

Scholar Rock Stock Performance

SRRK stock traded up $0.13 during mid-day trading on Friday, hitting $29.08. The stock had a trading volume of 622,230 shares, compared to its average volume of 1,136,511. The firm has a fifty day simple moving average of $18.37 and a 200 day simple moving average of $13.06. Scholar Rock has a 52 week low of $6.76 and a 52 week high of $35.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.04 and a quick ratio of 6.04.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.61) by $0.01. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. On average, equities research analysts expect that Scholar Rock will post -2.37 EPS for the current fiscal year.

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.