Scholar Rock Holding Co. (NASDAQ:SRRK) Receives $58.80 Consensus Price Target from Analysts

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have been given an average rating of “Hold” by the five brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $57.25.

SRRK has been the subject of a number of recent research reports. Piper Sandler initiated coverage on Scholar Rock in a research note on Thursday, November 18th. They issued an “overweight” rating and a $56.00 target price for the company. Jefferies Financial Group cut Scholar Rock from a “buy” rating to a “hold” rating and lowered their price target for the company from $52.00 to $28.00 in a research report on Wednesday, December 22nd. Finally, Zacks Investment Research cut Scholar Rock from a “hold” rating to a “sell” rating in a research report on Wednesday.

In other news, CFO Edward H. Myles sold 4,879 shares of the company’s stock in a transaction on Monday, November 15th. The stock was sold at an average price of $35.05, for a total transaction of $171,008.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Edward H. Myles sold 23,574 shares of the company’s stock in a transaction on Thursday, November 11th. The shares were sold at an average price of $35.20, for a total value of $829,804.80. The disclosure for this sale can be found here. 20.30% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of Scholar Rock by 22.1% during the third quarter. Royal Bank of Canada now owns 2,317 shares of the company’s stock valued at $77,000 after acquiring an additional 420 shares during the period. Bank of America Corp DE lifted its stake in shares of Scholar Rock by 3.5% during the second quarter. Bank of America Corp DE now owns 15,133 shares of the company’s stock valued at $438,000 after acquiring an additional 516 shares during the period. Virtus ETF Advisers LLC lifted its stake in shares of Scholar Rock by 11.5% during the second quarter. Virtus ETF Advisers LLC now owns 6,975 shares of the company’s stock valued at $202,000 after acquiring an additional 718 shares during the period. Northern Trust Corp lifted its stake in shares of Scholar Rock by 0.3% during the second quarter. Northern Trust Corp now owns 288,882 shares of the company’s stock valued at $8,349,000 after acquiring an additional 748 shares during the period. Finally, Credit Suisse AG lifted its stake in shares of Scholar Rock by 6.5% during the third quarter. Credit Suisse AG now owns 14,132 shares of the company’s stock valued at $466,000 after acquiring an additional 868 shares during the period. 81.34% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ SRRK traded up $0.35 during trading hours on Friday, reaching $20.23. The stock had a trading volume of 243,343 shares, compared to its average volume of 180,414. The business’s fifty day moving average is $26.41 and its two-hundred day moving average is $30.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.00 and a quick ratio of 4.00. The company has a market cap of $710.23 million, a price-to-earnings ratio of -5.93 and a beta of 0.10. Scholar Rock has a twelve month low of $18.84 and a twelve month high of $70.00.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Monday, November 8th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.17). The firm had revenue of $5.46 million during the quarter, compared to analyst estimates of $4.65 million. Scholar Rock had a negative net margin of 672.72% and a negative return on equity of 54.11%. The business’s revenue for the quarter was up 79.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.79) earnings per share. Sell-side analysts forecast that Scholar Rock will post -3.66 earnings per share for the current fiscal year.

About Scholar Rock

Scholar Rock Holding Corp. is a biopharmaceutical company. It engages in the development and discovery of innovative medicines. The firm offers proprietary platform which designed to discover and develop monoclonal antibodies that have a high degree of specificity to achieve selective modulation of growth factor signaling.

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