BMO Capital Markets Has Lowered Expectations for Scholar Rock (NASDAQ:SRRK) Stock Price

Scholar Rock (NASDAQ:SRRK) had its price target lowered by BMO Capital Markets from $57.00 to $45.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also recently issued reports on the company. Raymond James Financial set a $53.00 price objective on Scholar Rock and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Lifesci Capital upgraded Scholar Rock to a “strong-buy” rating in a research note on Tuesday, June 3rd. Cantor Fitzgerald initiated coverage on Scholar Rock in a research note on Thursday, July 17th. They issued an “overweight” rating on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $50.00 target price on shares of Scholar Rock in a research note on Wednesday, June 18th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $45.14.

Scholar Rock Stock Performance

Scholar Rock stock opened at $31.95 on Thursday. The stock has a market cap of $3.03 billion, a P/E ratio of -10.98 and a beta of 0.48. The company has a current ratio of 6.33, a quick ratio of 10.25 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $35.74 and a 200-day moving average of $34.45. Scholar Rock has a 52 week low of $6.76 and a 52 week high of $46.98.

Scholar Rock (NASDAQ:SRRK) last released its earnings results on Wednesday, August 6th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.32). During the same quarter in the prior year, the firm posted ($0.60) earnings per share. On average, analysts expect that Scholar Rock will post -2.42 EPS for the current fiscal year.

Insider Activity at Scholar Rock

In other news, Director Joshua Reed sold 5,400 shares of the firm’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total transaction of $160,488.00. Following the transaction, the director directly owned 15,732 shares of the company’s stock, valued at approximately $467,555.04. This trade represents a 25.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey S. Flier sold 20,316 shares of the firm’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $32.24, for a total value of $654,987.84. Following the transaction, the director directly owned 24,070 shares in the company, valued at $776,016.80. This trade represents a 45.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 93,654 shares of company stock valued at $3,101,811. 13.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SRRK. Marshall Wace LLP grew its holdings in Scholar Rock by 1,283.7% during the fourth quarter. Marshall Wace LLP now owns 2,945,408 shares of the company’s stock worth $127,301,000 after acquiring an additional 2,732,546 shares during the period. Fairmount Funds Management LLC acquired a new position in Scholar Rock during the fourth quarter worth about $84,839,000. Adage Capital Partners GP L.L.C. acquired a new position in Scholar Rock during the fourth quarter worth about $68,930,000. Wellington Management Group LLP grew its holdings in Scholar Rock by 763.8% during the fourth quarter. Wellington Management Group LLP now owns 1,725,622 shares of the company’s stock worth $74,581,000 after acquiring an additional 1,525,845 shares during the period. Finally, Vestal Point Capital LP acquired a new position in Scholar Rock during the first quarter worth about $41,795,000. 91.08% of the stock is owned by institutional investors and hedge funds.

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.