Scholar Rock (NASDAQ:SRRK) Hits New 12-Month High – Should You Buy?
by Renee Jackson · The Cerbat GemScholar Rock Holding Corporation (NASDAQ:SRRK – Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $47.66 and last traded at $47.4080, with a volume of 401366 shares trading hands. The stock had previously closed at $45.05.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. BMO Capital Markets reissued an “outperform” rating and set a $50.00 price objective on shares of Scholar Rock in a report on Friday, November 14th. Leerink Partnrs upgraded shares of Scholar Rock to a “strong-buy” rating in a research note on Monday, September 15th. Wolfe Research began coverage on shares of Scholar Rock in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $42.00 price objective for the company. Bank of America assumed coverage on Scholar Rock in a research report on Thursday, October 9th. They set a “buy” rating and a $53.00 target price on the stock. Finally, Jefferies Financial Group started coverage on Scholar Rock in a research report on Thursday, August 21st. They issued a “buy” rating and a $50.00 target price for the company. Four research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $48.33.
View Our Latest Stock Analysis on SRRK
Scholar Rock Stock Up 0.1%
The company has a debt-to-equity ratio of 0.41, a current ratio of 6.30 and a quick ratio of 6.30. The firm’s 50 day moving average price is $36.01 and its two-hundred day moving average price is $34.99. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of -14.88 and a beta of 0.61.
Scholar Rock (NASDAQ:SRRK – Get Free Report) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.02). During the same quarter in the previous year, the firm earned ($0.66) earnings per share. As a group, sell-side analysts forecast that Scholar Rock Holding Corporation will post -2.42 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Katie Peng sold 1,006 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $32.53, for a total transaction of $32,725.18. Following the transaction, the director directly owned 33,914 shares in the company, valued at $1,103,222.42. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Srinivas Akkaraju acquired 113,025 shares of Scholar Rock stock in a transaction that occurred on Monday, October 6th. The stock was purchased at an average price of $38.65 per share, with a total value of $4,368,416.25. Following the transaction, the director owned 500,439 shares of the company’s stock, valued at $19,341,967.35. This trade represents a 29.17% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 143,999 shares of company stock valued at $6,411,535 over the last three months. 13.30% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Scholar Rock
A number of large investors have recently modified their holdings of SRRK. Wellington Management Group LLP grew its holdings in Scholar Rock by 124.5% during the third quarter. Wellington Management Group LLP now owns 4,545,887 shares of the company’s stock worth $169,289,000 after acquiring an additional 2,521,022 shares during the period. Holocene Advisors LP acquired a new position in shares of Scholar Rock during the 3rd quarter worth $91,670,000. Vestal Point Capital LP purchased a new position in shares of Scholar Rock in the 1st quarter valued at about $41,795,000. Norges Bank purchased a new position in shares of Scholar Rock in the 2nd quarter valued at about $41,628,000. Finally, RA Capital Management L.P. lifted its stake in shares of Scholar Rock by 6,351.3% in the first quarter. RA Capital Management L.P. now owns 1,136,453 shares of the company’s stock valued at $36,537,000 after purchasing an additional 1,118,837 shares during the period. 91.08% of the stock is 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.