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

Scholar Rock (NASDAQ:SRRK - Get Free Report)'s stock had its "outperform" rating restated by analysts at Wedbush in a research report issued to clients and investors on Thursday,RTT News reports. They currently have a $47.00 price objective on the stock. Wedbush's price objective would indicate a potential upside of 15.06% from the company's previous close.

A number of other equities research analysts also recently commented on SRRK. BMO Capital Markets lifted their price objective on Scholar Rock from $34.00 to $38.00 and gave the company an "outperform" rating in a research report on Friday, October 11th. JPMorgan Chase & Co. upped 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. Piper Sandler boosted their target price on shares of Scholar Rock from $28.00 to $42.00 and gave the company an "overweight" rating in a report on Tuesday, October 15th. HC Wainwright increased their price target on shares of Scholar Rock from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Finally, Truist Financial boosted their price objective on shares of Scholar Rock from $36.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $40.43.

Scholar Rock Price Performance

Shares of SRRK stock traded up $0.37 during trading hours on Thursday, hitting $40.85. The company's stock had a trading volume of 883,599 shares, 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. The business has a fifty day moving average of $37.61 and a 200-day moving average of $21.43. Scholar Rock has a twelve month low of $6.76 and a twelve month high of $46.19. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of -17.38 and a beta of 0.52.

Insider Activity at Scholar Rock

In other Scholar Rock news, major shareholder Public Equities L.P. Invus sold 409,433 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $38.49, for a total value of $15,759,076.17. Following the transaction, the insider now owns 10,850,005 shares in the company, valued at $417,616,692.45. The trade was a 3.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 19.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Scholar Rock

Several institutional investors and hedge funds have recently made changes to their positions in SRRK. GAMMA Investing LLC boosted its position 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 purchasing an additional 269 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Scholar Rock by 1.0% during the third quarter. JPMorgan Chase & Co. now owns 38,726 shares of the company's stock valued at $310,000 after acquiring an additional 379 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Scholar Rock by 21.6% during the third 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. Rice Hall James & Associates LLC increased its holdings in shares of Scholar Rock by 3.6% in the 2nd quarter. Rice Hall James & Associates LLC now owns 46,000 shares of the company's stock worth $383,000 after acquiring an additional 1,594 shares during the period. Finally, ClariVest Asset Management LLC lifted its position in Scholar Rock by 3.0% in the 2nd quarter. ClariVest Asset Management LLC now owns 59,640 shares of the company's stock valued at $497,000 after purchasing an additional 1,718 shares during the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

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.