Scholar Rock (NASDAQ:SRRK) Rating Increased to Strong-Buy at Jefferies Financial Group

Scholar Rock (NASDAQ:SRRK) was upgraded by stock analysts at Jefferies Financial Group to a “strong-buy” rating in a report released on Monday, Zacks reports.

A number of other equities analysts have also recently weighed in on the stock. TD Cowen reissued a “buy” rating on shares of Scholar Rock in a research report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Scholar Rock in a research report on Friday, July 17th. JPMorgan Chase & Co. raised their price objective on Scholar Rock from $56.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. HC Wainwright lifted their target price on Scholar Rock from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Citigroup boosted their target price on Scholar Rock from $60.00 to $74.00 and gave the company a “buy” rating in a research note on Monday. Four analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Scholar Rock currently has an average rating of “Buy” and a consensus price target of $66.00.

Scholar Rock Stock Performance

Shares of NASDAQ:SRRK opened at $49.37 on Monday. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of -14.31 and a beta of 0.67. The firm’s 50 day simple moving average is $53.22 and its 200 day simple moving average is $49.62. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.02 and a quick ratio of 7.02. Scholar Rock has a fifty-two week low of $27.07 and a fifty-two week high of $61.76.

Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.84) earnings per share for the quarter, hitting the consensus estimate of ($0.84). During the same quarter in the prior year, the business posted ($0.98) EPS. As a group, sell-side analysts forecast that Scholar Rock will post -3.23 earnings per share for the current year.

Insider Activity at Scholar Rock

In related news, Director Kristina Burow sold 3,053 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total transaction of $164,068.22. Following the sale, the director directly owned 114,657 shares in the company, valued at $6,161,667.18. This trade represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joshua Reed sold 3,053 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $53.74, for a total transaction of $164,068.22. Following the completion of the sale, the director directly owned 19,518 shares in the company, valued at $1,048,897.32. This represents a 13.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 17,149 shares of company stock valued at $923,108 over the last three months. Insiders own 10.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Scholar Rock by 20.8% during the second quarter. GAMMA Investing LLC now owns 1,406 shares of the company’s stock worth $77,000 after purchasing an additional 242 shares during the period. Values First Advisors Inc. increased its position in Scholar Rock by 1.5% during the first quarter. Values First Advisors Inc. now owns 18,850 shares of the company’s stock worth $927,000 after buying an additional 286 shares during the last quarter. IFP Advisors Inc raised its stake in Scholar Rock by 294.1% in the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock valued at $27,000 after buying an additional 450 shares during the period. EverSource Wealth Advisors LLC raised its stake in Scholar Rock by 151.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock valued at $38,000 after buying an additional 525 shares during the period. Finally, Syon Capital LLC lifted its position in shares of Scholar Rock by 6.4% in the second quarter. Syon Capital LLC now owns 9,782 shares of the company’s stock valued at $538,000 after buying an additional 588 shares during the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Scholar Rock Company Profile

Scholar Rock, Inc is a biopharmaceutical company focused on developing medicines that selectively target growth factors in their latent forms. The company’s approach is designed to modulate the activation of growth factors in specific tissues, with the goal of addressing diseases in which these biological pathways contribute to impaired function or abnormal tissue growth.

Scholar Rock’s lead program is apitegromab, a monoclonal antibody designed to inhibit the activation of myostatin. The company has studied apitegromab as a potential treatment for spinal muscular atrophy, a genetic neuromuscular disorder that causes progressive muscle weakness and loss of motor function.