Scholar Rock Holding Co. (NASDAQ:SRRK) Given Average Rating of “Buy” by Brokerages

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have been given an average rating of “Buy” by the seven research firms that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $26.00.

A number of analysts have weighed in on SRRK shares. BMO Capital Markets increased their price objective on Scholar Rock from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Wedbush reissued an “outperform” rating and issued a $23.00 price objective on shares of Scholar Rock in a research note on Tuesday, May 7th. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Scholar Rock in a research note on Tuesday, June 4th. Piper Sandler reiterated an “overweight” rating and set a $28.00 price target on shares of Scholar Rock in a research note on Tuesday, March 26th. Finally, Raymond James started coverage on shares of Scholar Rock in a research report on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 price objective for the company.

Institutional Investors Weigh In On Scholar Rock

Institutional investors have recently modified their holdings of the company. Amalgamated Bank increased its position in shares of Scholar Rock by 15.5% in the fourth quarter. Amalgamated Bank now owns 4,869 shares of the company’s stock valued at $92,000 after buying an additional 652 shares in the last quarter. American International Group Inc. raised its position in Scholar Rock by 3.0% during the first quarter. American International Group Inc. now owns 28,407 shares of the company’s stock worth $505,000 after acquiring an additional 834 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Scholar Rock by 1.0% in the first quarter. Jennison Associates LLC now owns 138,458 shares of the company’s stock valued at $2,459,000 after purchasing an additional 1,409 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Scholar Rock by 11.7% in the first quarter. ProShare Advisors LLC now owns 15,412 shares of the company’s stock valued at $274,000 after purchasing an additional 1,620 shares during the last quarter. Finally, Alps Advisors Inc. raised its position in shares of Scholar Rock by 4.1% during the 3rd quarter. Alps Advisors Inc. now owns 41,535 shares of the company’s stock worth $295,000 after purchasing an additional 1,628 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

Scholar Rock Stock Performance

Shares of SRRK opened at $8.78 on Tuesday. The company’s 50 day simple moving average is $12.47 and its 200-day simple moving average is $14.93. The firm has a market cap of $700.24 million, a PE ratio of -4.20 and a beta of 0.80. Scholar Rock has a 12-month low of $5.93 and a 12-month high of $21.17. The company has a current ratio of 6.58, a quick ratio of 6.58 and a debt-to-equity ratio of 0.24.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). During the same quarter in the prior year, the business posted ($0.46) EPS. As a group, equities analysts predict that Scholar Rock will post -2.4 EPS for the current year.

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.