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

Scholar Rock (NASDAQ:SRRK) had its price target boosted by investment analysts at JPMorgan Chase & Co. from $47.00 to $50.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 23.51% from the company’s current price.

A number of other research firms have also recently weighed in on SRRK. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Scholar Rock in a report on Tuesday, March 3rd. BMO Capital Markets raised their target price on Scholar Rock from $50.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, March 4th. UBS Group initiated coverage on Scholar Rock in a research note on Wednesday, January 7th. They set a “buy” rating and a $60.00 target price on the stock. Wolfe Research initiated coverage on Scholar Rock in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $42.00 price target for the company. Finally, Piper Sandler raised their price target on Scholar Rock from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Four analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Scholar Rock has a consensus rating of “Buy” and an average price target of $54.36.

Scholar Rock Stock Up 1.2%

Shares of SRRK traded up $0.47 during midday trading on Monday, hitting $40.48. The company had a trading volume of 516,711 shares, compared to its average volume of 1,104,140. The company has a quick ratio of 6.95, a current ratio of 6.95 and a debt-to-equity ratio of 0.41. Scholar Rock has a 52 week low of $22.71 and a 52 week high of $49.82. The company’s 50 day moving average price is $45.21 and its 200 day moving average price is $39.68. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of -11.82 and a beta of 0.70.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.10. During the same period in the prior year, the firm earned ($0.64) earnings per share. On average, equities research analysts predict that Scholar Rock will post -2.42 EPS for the current year.

Insider Buying and Selling

In related news, insider Akshay Vaishnaw sold 20,438 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $42.70, for a total value of $872,702.60. Following the completion of the sale, the insider owned 595,767 shares in the company, valued at approximately $25,439,250.90. This represents a 3.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vikas Sinha sold 16,755 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $42.70, for a total transaction of $715,438.50. Following the completion of the transaction, the chief financial officer directly owned 583,245 shares of the company’s stock, valued at $24,904,561.50. This represents a 2.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 208,470 shares of company stock worth $9,201,778. 13.30% of the stock is owned by insiders.

Institutional Trading of Scholar Rock

A number of hedge funds have recently modified their holdings of SRRK. Orbis Allan Gray Ltd boosted its position in shares of Scholar Rock by 1,034.5% in the fourth quarter. Orbis Allan Gray Ltd now owns 3,428,929 shares of the company’s stock worth $151,044,000 after buying an additional 3,126,677 shares during the period. Wellington Management Group LLP lifted its stake in Scholar Rock by 124.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,545,887 shares of the company’s stock worth $169,289,000 after acquiring an additional 2,521,022 shares in the last quarter. Holocene Advisors LP purchased a new stake in Scholar Rock in the 3rd quarter worth about $91,670,000. Norges Bank acquired a new stake in Scholar Rock during the 4th quarter worth about $91,603,000. Finally, Siren L.L.C. grew its stake in Scholar Rock by 17.0% during the 4th quarter. Siren L.L.C. now owns 10,825,013 shares of the company’s stock valued at $476,842,000 after acquiring an additional 1,575,008 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

About Scholar Rock

Scholar Rock is a clinical-stage biotechnology company focused on the discovery and development of protein therapeutics that selectively target growth factors involved in disease processes. The company’s research platform is designed to modulate endogenous growth factor activation and signaling with high specificity, aiming to restore normal biological function across a range of disorders. Scholar Rock’s approach is distinguished by its emphasis on engineering antibodies and biologics that interact with growth factor precursors or latent complexes rather than the active form, potentially offering improved safety and efficacy profiles.

The company’s lead program, SRK-015 (appercept), is an investigational monoclonal antibody targeting the activation of latent myostatin proproteins and is being evaluated for the treatment of spinal muscular atrophy (SMA).