Scholar Rock Holding Co. (NASDAQ:SRRK) Receives $26.43 Average PT from Analysts

Shares of Scholar Rock Holding Co. (NASDAQ:SRRK) have earned an average rating of “Buy” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $26.43.

A number of equities analysts have commented on the stock. Wedbush reissued an “outperform” rating and issued a $23.00 price objective on shares of Scholar Rock in a research note on Thursday, August 8th. BMO Capital Markets lifted their price objective on shares of Scholar Rock from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Scholar Rock in a research note on Tuesday, June 25th.

Institutional Investors Weigh In On Scholar Rock

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new stake in Scholar Rock during the 2nd quarter valued at about $103,000. Clearbridge Investments LLC bought a new stake in Scholar Rock during the 2nd quarter valued at about $6,223,000. Algert Global LLC lifted its holdings in Scholar Rock by 34.7% during the 2nd quarter. Algert Global LLC now owns 16,695 shares of the company’s stock valued at $139,000 after buying an additional 4,305 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Scholar Rock by 30.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 222,800 shares of the company’s stock valued at $1,856,000 after buying an additional 52,329 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Scholar Rock by 159.2% during the 2nd quarter. Millennium Management LLC now owns 925,584 shares of the company’s stock valued at $7,710,000 after buying an additional 568,512 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.

Scholar Rock Stock Performance

SRRK opened at $8.61 on Thursday. The stock has a market capitalization of $689.06 million, a price-to-earnings ratio of -4.12 and a beta of 0.82. The company has a fifty day moving average of $8.90 and a 200 day moving average of $11.06. Scholar Rock has a fifty-two week low of $6.22 and a fifty-two week high of $21.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.04 and a current ratio of 6.04.

Scholar Rock (NASDAQ:SRRK) last posted its earnings results on Thursday, August 8th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.01. During the same quarter in the previous year, the firm earned ($0.47) EPS. As a group, sell-side analysts forecast that Scholar Rock will post -2.39 earnings per share for the current fiscal 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.