Scholar Rock (NASDAQ:SRRK) Price Target Raised to $50.00 at HC Wainwright

Scholar Rock (NASDAQ:SRRK - Get Free Report) had its price target increased by analysts at HC Wainwright from $40.00 to $50.00 in a report issued on Tuesday, MarketBeat.com reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price target points to a potential upside of 34.08% from the company's current price.

Several other brokerages have also recently commented on SRRK. Wedbush increased their price target on shares of Scholar Rock from $40.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday. JPMorgan Chase & Co. increased their price target on shares of Scholar Rock from $18.00 to $31.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Truist Financial raised their target price on shares of Scholar Rock from $36.00 to $45.00 and gave the stock a "buy" rating in a report on Monday. Piper Sandler upped 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. Finally, BMO Capital Markets raised their price target on shares of Scholar Rock from $34.00 to $38.00 and gave the stock an "outperform" rating in a report on Friday, October 11th. Six investment 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.com, Scholar Rock currently has an average rating of "Buy" and an average target price of $40.43.

Scholar Rock Stock Down 1.1 %

Shares of SRRK stock traded down $0.43 during trading hours on Tuesday, hitting $37.29. 875,208 shares of the company were exchanged, compared to its average volume of 1,151,161. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. Scholar Rock has a one year low of $6.76 and a one year high of $43.38. The business's 50-day simple moving average is $23.12 and its two-hundred day simple moving average is $14.21. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of -16.05 and a beta of 0.47.

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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tracey Sacco sold 30,000 shares of the company's stock in a transaction that occurred on 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 transaction, the insider now directly owns 49,285 shares of the company's stock, valued at approximately $1,262,681.70. This trade represents a 37.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,413,889 shares of company stock worth $40,652,551 in the last 90 days. 19.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SRRK. Clearbridge Investments LLC acquired a new position in shares of Scholar Rock in the second quarter valued at $6,223,000. Candriam S.C.A. acquired a new position in Scholar Rock during the second quarter worth $6,201,000. Fisher Asset Management LLC raised its stake in Scholar Rock by 593.6% during the third quarter. Fisher Asset Management LLC now owns 734,019 shares of the company's stock worth $5,879,000 after acquiring an additional 628,186 shares in the last quarter. Millennium Management LLC raised its stake in Scholar Rock by 159.2% during the second quarter. Millennium Management LLC now owns 925,584 shares of the company's stock worth $7,710,000 after acquiring an additional 568,512 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in Scholar Rock by 1,051.3% during the second quarter. Marshall Wace LLP now owns 487,285 shares of the company's stock worth $4,059,000 after acquiring an additional 444,961 shares in the last quarter. 91.08% of the stock is currently 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.