Scholar Rock Holding Co. (NASDAQ:SRRK) Receives Average Recommendation of "Buy" from Brokerages

Scholar Rock Holding Co. (NASDAQ:SRRK - Get Free Report) has been given a consensus recommendation of "Buy" by the seven analysts that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $40.43.

A number of research analysts have recently weighed in on SRRK shares. BMO Capital Markets increased their target price on shares of Scholar Rock from $34.00 to $38.00 and gave the company an "outperform" rating in a research report on Friday, October 11th. HC Wainwright raised their target price on Scholar Rock from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. increased 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. Truist Financial boosted their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Finally, Wedbush lifted their target price on shares of Scholar Rock from $40.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, November 25th.

Scholar Rock Stock Performance

Shares of NASDAQ SRRK traded up $1.42 during mid-day trading on Tuesday, reaching $39.38. 735,132 shares of the company's stock were exchanged, compared to its average volume of 1,149,322. The firm has a 50-day moving average price of $26.08 and a two-hundred day moving average price of $15.06. 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 52 week low of $6.76 and a 52 week high of $43.38.

Insider Activity at Scholar Rock

In related news, CFO Edward H. Myles sold 206,240 shares of the business's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $26.56, for a total transaction of $5,477,734.40. Following the completion of the transaction, the chief financial officer now directly owns 161,088 shares in the company, valued at $4,278,497.28. The trade was a 56.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tracey Sacco sold 30,000 shares of the firm's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $25.62, for a total value of $768,600.00. Following the completion of the sale, the insider now directly owns 49,285 shares in the company, valued at approximately $1,262,681.70. The trade was a 37.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,823,322 shares of company stock valued at $56,411,627. Corporate insiders own 19.20% of the company's stock.

Hedge Funds Weigh In On Scholar Rock

A number of hedge funds and other institutional investors have recently bought and sold shares of SRRK. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 worth $25,000 after acquiring an additional 514 shares during the last quarter. Quarry LP lifted its stake in Scholar Rock by 3,443.3% during the third quarter. Quarry LP now owns 4,500 shares of the company's stock worth $36,000 after purchasing an additional 4,373 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Scholar Rock in the 2nd quarter worth about $98,000. Hsbc Holdings PLC purchased a new position in shares of Scholar Rock in the 2nd quarter worth about $100,000. Finally, Point72 DIFC Ltd bought a new position in shares of Scholar Rock during the 2nd quarter valued at about $103,000. 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.