Wedbush Increases Scholar Rock (NASDAQ:SRRK) Price Target to $58.00

Scholar Rock (NASDAQ:SRRK) had its price objective boosted by equities researchers at Wedbush from $56.00 to $58.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price target would indicate a potential upside of 15.98% from the company’s previous close.

A number of other analysts have also commented on SRRK. Raymond James Financial reissued a “strong-buy” rating on shares of Scholar Rock in a research note on Tuesday, March 3rd. HC Wainwright reiterated a “buy” rating and issued a $58.00 price objective on shares of Scholar Rock in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Scholar Rock in a research report on Thursday, January 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Scholar Rock in a report on Thursday, December 11th. Finally, UBS Group assumed coverage on shares of Scholar Rock in a research report on Wednesday, January 7th. They issued a “buy” rating and a $60.00 price target for the company. Four analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $54.93.

Scholar Rock Stock Up 1.3%

Shares of SRRK opened at $50.01 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.95 and a current ratio of 6.95. Scholar Rock has a 52 week low of $22.71 and a 52 week high of $50.50. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of -14.58 and a beta of 0.68. The stock has a fifty day moving average of $45.22 and a 200-day moving average of $40.75.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.10. During the same period in the prior year, the business posted ($0.64) EPS. As a group, sell-side analysts anticipate that Scholar Rock will post -2.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Caryn Parlavecchio sold 9,035 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $46.53, for a total transaction of $420,398.55. Following the completion of the transaction, the insider directly owned 169,087 shares in the company, valued at $7,867,618.11. This trade represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Junlin Ho sold 9,580 shares of Scholar Rock stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $46.53, for a total value of $445,757.40. Following the completion of the transaction, the general counsel directly owned 241,545 shares in the company, valued at approximately $11,239,088.85. This represents a 3.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 207,464 shares of company stock worth $9,157,423. Corporate insiders own 13.30% of the company’s stock.

Institutional Investors Weigh In On Scholar Rock

A number of institutional investors have recently modified their holdings of SRRK. IFP Advisors Inc increased its position in shares of Scholar Rock by 294.1% during the fourth quarter. IFP Advisors Inc now owns 603 shares of the company’s stock worth $27,000 after buying an additional 450 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Scholar Rock during the fourth quarter worth $30,000. Summit Securities Group LLC acquired a new position in Scholar Rock in the fourth quarter valued at $31,000. Ramirez Asset Management Inc. acquired a new position in Scholar Rock in the third quarter valued at $37,000. Finally, EverSource Wealth Advisors LLC boosted its position in Scholar Rock by 151.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 872 shares of the company’s stock valued at $38,000 after acquiring an additional 525 shares during the last quarter. 91.08% of the stock is owned by institutional investors.

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).