Wedbush Increases Scholar Rock (NASDAQ:SRRK) Price Target to $47.00

Scholar Rock (NASDAQ:SRRK) had its target price upped by Wedbush from $40.00 to $47.00 in a report issued on Monday morning, MarketBeat.com reports. Wedbush currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the company. HC Wainwright lifted their target price on Scholar Rock from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their target price on Scholar Rock from $18.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets lifted their target price on Scholar Rock from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Truist Financial boosted their price objective on Scholar Rock from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday. Finally, Piper Sandler boosted their price objective on Scholar Rock from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $39.00.

Scholar Rock Price Performance

NASDAQ SRRK opened at $37.72 on Monday. The company has a market capitalization of $3.53 billion, a PE ratio of -16.05 and a beta of 0.47. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.88 and a current ratio of 3.88. The business’s fifty day moving average is $23.12 and its 200 day moving average is $14.21. Scholar Rock has a fifty-two week low of $6.76 and a fifty-two week high of $43.38.

Insider Activity

In other news, CFO Edward H. Myles sold 206,240 shares of Scholar Rock stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $26.56, for a total value of $5,477,734.40. Following the sale, the chief financial officer now directly owns 161,088 shares of the company’s stock, valued at approximately $4,278,497.28. The trade was a 56.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tracey Sacco sold 30,000 shares of Scholar Rock stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $25.62, for a total value of $768,600.00. Following the completion of the sale, the insider now directly owns 49,285 shares in the company, valued at $1,262,681.70. This trade represents a 37.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,413,889 shares of company stock worth $40,652,551 over the last ninety days. Corporate insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

Several large investors have recently made changes to their positions in SRRK. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Scholar Rock by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $25,000 after purchasing an additional 514 shares during the last quarter. Quarry LP increased its holdings in shares of Scholar Rock by 3,443.3% in the third quarter. Quarry LP now owns 4,500 shares of the company’s stock worth $36,000 after purchasing an additional 4,373 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Scholar Rock in the second quarter worth about $98,000. Hsbc Holdings PLC bought a new stake in shares of Scholar Rock in the second quarter worth about $100,000. Finally, Point72 DIFC Ltd bought a new stake in Scholar Rock during the second quarter worth approximately $103,000. 91.08% of the stock is owned by institutional investors.

Scholar Rock Company Profile

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.