Scholar Rock (NASDAQ:SRRK) Price Target Lowered to $18.00 at JPMorgan Chase & Co.

Scholar Rock (NASDAQ:SRRK) had its price objective decreased by JPMorgan Chase & Co. from $20.00 to $18.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 142.59% from the company’s current price.

SRRK has been the subject of several other reports. 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. Wedbush reissued an “outperform” rating and issued a $23.00 price target on shares of Scholar Rock in a research note on Thursday, August 8th. Finally, BMO Capital Markets upped their price objective on shares of Scholar Rock from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $25.38.

Scholar Rock Stock Up 5.0 %

SRRK stock opened at $7.42 on Thursday. Scholar Rock has a 52 week low of $6.30 and a 52 week high of $21.17. The company has a quick ratio of 6.04, a current ratio of 6.04 and a debt-to-equity ratio of 0.36. The firm has a 50-day simple moving average of $8.76 and a 200-day simple moving average of $10.77. The stock has a market capitalization of $591.77 million, a P/E ratio of -3.49 and a beta of 0.82.

Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.01. During the same period in the previous year, the business earned ($0.47) EPS. Equities analysts forecast that Scholar Rock will post -2.39 earnings per share for the current fiscal year.

Institutional Trading of Scholar Rock

Several institutional investors and hedge funds have recently bought and sold shares of SRRK. Price T Rowe Associates Inc. MD increased its position in shares of Scholar Rock by 16.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,321,471 shares of the company’s stock valued at $156,444,000 after acquiring an additional 1,149,519 shares during the last quarter. Redmile Group LLC boosted its position in shares of Scholar Rock by 0.3% during the first quarter. Redmile Group LLC now owns 6,419,610 shares of the company’s stock worth $114,012,000 after buying an additional 17,105 shares during the period. Vanguard Group Inc. grew its stake in shares of Scholar Rock by 4.0% in the first quarter. Vanguard Group Inc. now owns 2,969,534 shares of the company’s stock valued at $52,739,000 after buying an additional 114,550 shares in the last quarter. Bellevue Group AG raised its holdings in shares of Scholar Rock by 1.5% in the 4th quarter. Bellevue Group AG now owns 2,168,925 shares of the company’s stock valued at $40,776,000 after buying an additional 31,000 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Scholar Rock by 31.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,430,764 shares of the company’s stock worth $26,898,000 after acquiring an additional 342,690 shares in the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Scholar Rock Company Profile

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.