Bank of America Securities Sticks to Its Buy Rating for Scholar Rock Holding (SRRK)
In a report released yesterday, Tazeen Ahmad from Bank of America Securities reiterated a Buy rating on Scholar Rock Holding, with a price target of $51.00. The company’s shares closed yesterday at $44.31.
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According to TipRanks, Ahmad is a 3-star analyst with an average return of 1.7% and a 53.70% success rate. Ahmad covers the Healthcare sector, focusing on stocks such as Ocular Therapeutix, Argenx Se, and Gilead Sciences.
Currently, the analyst consensus on Scholar Rock Holding is a Strong Buy with an average price target of $53.89, representing a 21.62% upside. In a report released today, Barclays also maintained a Buy rating on the stock with a $53.00 price target.
Based on Scholar Rock Holding’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $102.22 million. In comparison, last year the company had a GAAP net loss of $64.48 million
Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SRRK in relation to earlier this year. Last month, Invus Global Management, LLC, a Major Shareholder at SRRK bought 1,575,008.00 shares for a total of $11,576,308.80.
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