Scholar Rock Holding Corporation (NASDAQ:SRRK) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Scholar Rock Holding Corporation (NASDAQ:SRRK) have been assigned an average rating of “Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, twelve have issued a buy rating and four have given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $56.00.

A number of analysts recently commented on SRRK shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Scholar Rock in a research note on Tuesday, April 21st. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Scholar Rock in a research note on Tuesday, March 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Scholar Rock in a research note on Thursday, June 18th. HC Wainwright increased their price objective on Scholar Rock from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. increased their price objective on Scholar Rock from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, March 16th.

Insiders Place Their Bets

In related news, CEO David Hallal sold 30,615 shares of the stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $49.57, for a total transaction of $1,517,585.55. Following the transaction, the chief executive officer directly owned 1,639,034 shares in the company, valued at approximately $81,246,915.38. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Vikas Sinha sold 10,410 shares of the stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $49.57, for a total value of $516,023.70. Following the transaction, the chief financial officer owned 619,856 shares in the company, valued at $30,726,261.92. This trade represents a 1.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 63,491 shares of company stock valued at $3,147,249. 13.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Scholar Rock

Several large investors have recently added to or reduced their stakes in SRRK. IFP Advisors Inc lifted its position in 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 purchased a new position in Scholar Rock during the fourth quarter worth about $30,000. Summit Securities Group LLC purchased a new position in Scholar Rock during the fourth quarter worth about $31,000. Ramirez Asset Management Inc. purchased a new position in Scholar Rock during the third quarter worth about $37,000. Finally, EverSource Wealth Advisors LLC lifted 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 worth $38,000 after buying an additional 525 shares during the period. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Scholar Rock Stock Up 0.1%

SRRK opened at $55.00 on Wednesday. The company has a quick ratio of 8.64, a current ratio of 8.64 and a debt-to-equity ratio of 0.71. The firm has a market cap of $6.59 billion, a P/E ratio of -15.32 and a beta of 0.69. Scholar Rock has a 52 week low of $27.07 and a 52 week high of $56.54. The business’s fifty day simple moving average is $48.04 and its 200 day simple moving average is $46.42.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.01). During the same quarter last year, the business earned ($0.67) earnings per share. As a group, equities research analysts anticipate that Scholar Rock will post -3.23 EPS for the current fiscal year.

Scholar Rock Company Profile

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).