BMO Capital Markets cuts Scholar Rock (NASDAQ:SRRK) price target to $43.00

Scholar Rock (NASDAQ: SRRK – Get a rating) had its price target lowered by BMO Capital Markets research analysts from $55.00 to $43.00 in a report on Tuesday, Fly reports. BMO Capital Markets’ price target indicates a potential upside of 404.69% from the company’s previous close.

SRRK has been the subject of a number of other reports. Truist Financial began covering Scholar Rock in a report on Tuesday, July 12. They set a “buy” rating and a price target of $20.00 for the company. Wedbush reduced its price target on Scholar Rock from $50.00 to $33.00 and gave the stock an “na” rating in a Tuesday, May 17 research note. JPMorgan Chase & Co. lowered its price target on shares of Scholar Rock from $46.00 to $37.00 in a Tuesday, May 24 research report. Finally, Piper Sandler cut her price target on Scholar Rock shares from $28.00 to $19.00 and set an “overweight” rating on the stock in a Thursday, June 23 research report. One equity research analyst gave the stock a hold rating and three gave the company’s stock a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.14.

Scholar Rock Awards Performance

NASDAQ: SRRK opened at $8.52 on Tuesday. The company has a market capitalization of $300.76 million, a price-earnings ratio of -2.80 and a beta of 0.63. Scholar Rock has a 12-month low of $4.32 and a 12-month high of $44.95. The company has a current ratio of 6.85, a quick ratio of 6.85 and a debt ratio of 0.25. The company’s 50-day moving average is $6.52 and its two-hundred-day moving average is $10.28.

Scholar Rock (NASDAQ: SRRK – Get a rating) last released its results on Monday, August 8. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($1.04) by ($0.02). Scholar Rock had a negative return on equity of 59.99% and a negative net margin of 236.95%. The company recorded revenue of $1.00 million during the quarter. During the same period of the previous year, the company made ($0.84) earnings per share. The company’s revenue for the quarter was down 78.2% from the same quarter last year. Research analysts expect Scholar Rock to post -2.48 EPS for the current year.

Insiders place their bets

In other Scholar Rock news, Director Amir Nashat purchased 1,197,992 shares of Scholar Rock in a trade dated Wednesday, June 22. The shares were purchased at an average cost of $4.90 per share, for a total transaction of $5,870,160.80. Following the transaction, the administrator now owns 3,540,530 shares of the company, valued at approximately $17,348,597. The transaction was disclosed in an SEC filing, available at the SEC website. 2.05% of the shares are held by insiders of the company.

Scholar Rock Institutional Trading

Several hedge funds have recently bought and sold shares of SRRK. Victory Capital Management Inc. increased its stake in shares of Scholar Rock by 25.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,273,193 shares of the company valued at $31,626,000 after purchasing an additional 262,130 shares last quarter. State Street Corp increased its holdings of Scholar Rock shares by 20.5% in the first quarter. State Street Corp now owns 1,502,501 shares of the company valued at $19,367,000 after purchasing an additional 255,624 shares during the period. Frazier Life Sciences Management LP acquired a new position in Scholar Rock during the first quarter worth approximately $2,011,000. Dimensional Fund Advisors LP increased its position in Scholar Rock shares by 293.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 144,568 shares of the company valued at $3,591,000 after purchasing an additional 107,805 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Scholar Rock by 234.7% during the first quarter. Goldman Sachs Group Inc. now owns 150,321 shares of the company worth $1,938,000 after buying an additional 105,413 shares last quarter. 84.22% of the shares are currently held by institutional investors.

About Scholar Rock

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Scholar Rock Holding Corporation, a biopharmaceutical company, is focused on the discovery and development of drugs for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The Company is developing Apitegromab, a latent myostatin activation inhibitor that has completed Phase 3 clinical trials for the treatment of spinal muscular atrophy; and SRK-181, which is in Phase 1 clinical trials for the treatment of cancers resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies.

Further reading

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