Scholar Rock (NASDAQ:SRRK – Get Free Report)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They currently have a $30.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 110.67% from the company’s previous close.
Several other analysts also recently commented on SRRK. Raymond James initiated coverage on Scholar Rock in a research note on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 price objective for the company. Piper Sandler reissued an “overweight” rating and issued a $28.00 price target on shares of Scholar Rock in a research report on Tuesday, March 26th. Truist Financial restated a “buy” rating and set a $20.00 price objective on shares of Scholar Rock in a research note on Wednesday, April 3rd. Finally, Wedbush reiterated an “outperform” rating and issued a $23.00 target price on shares of Scholar Rock in a research note on Tuesday. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $25.17.
View Our Latest Report on Scholar Rock
Scholar Rock Stock Down 3.1 %
Scholar Rock (NASDAQ:SRRK – Get Free Report) last posted its earnings results on Tuesday, May 7th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.11). During the same period in the prior year, the company earned ($0.46) EPS. Analysts anticipate that Scholar Rock will post -2.01 earnings per share for the current year.
Insider Buying and Selling at Scholar Rock
In other Scholar Rock news, CEO Jay T. Backstrom sold 11,614 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $182,804.36. Following the completion of the sale, the chief executive officer now owns 352,671 shares in the company, valued at approximately $5,551,041.54. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, General Counsel Junlin Ho sold 3,489 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $54,916.86. Following the completion of the transaction, the general counsel now directly owns 208,771 shares of the company’s stock, valued at approximately $3,286,055.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jay T. Backstrom sold 11,614 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $182,804.36. Following the transaction, the chief executive officer now directly owns 352,671 shares of the company’s stock, valued at $5,551,041.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,359 shares of company stock worth $351,931. Insiders own 26.20% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the stock. abrdn plc bought a new position in shares of Scholar Rock during the 4th quarter valued at approximately $3,177,000. Jennison Associates LLC bought a new position in Scholar Rock in the 4th quarter worth approximately $2,577,000. Barclays PLC boosted its holdings in Scholar Rock by 62.3% in the 3rd quarter. Barclays PLC now owns 32,318 shares of the company’s stock worth $230,000 after buying an additional 12,409 shares during the period. Polar Capital Holdings Plc bought a new position in Scholar Rock in the 3rd quarter worth approximately $10,664,000. Finally, Alps Advisors Inc. boosted its holdings in Scholar Rock by 4.1% in the 3rd quarter. Alps Advisors Inc. now owns 41,535 shares of the company’s stock worth $295,000 after buying an additional 1,628 shares during the period. 91.08% of the stock is owned by institutional investors.
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.
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