Scholar Rock (SRRK) Rating Increased to Hold at Zacks Investment Research

Share on StockTwits

Zacks Investment Research upgraded shares of Scholar Rock (NASDAQ:SRRK) from a sell rating to a hold rating in a research report sent to investors on Thursday, September 20th.

According to Zacks, “Scholar Rock Holding Corporation is a biopharmaceutical company. It focused on the discovery and development of medicines for treatment of serious diseases. The company’s product candidate includes SRK-015 and BMP6 which is in pre-clinical stage. Scholar Rock Holding Corporation is based in Cambridge, United States. “

A number of other research analysts have also recently issued reports on the stock. Cowen started coverage on shares of Scholar Rock in a report on Monday, June 18th. They issued an outperform rating for the company. Jefferies Financial Group started coverage on shares of Scholar Rock in a report on Monday, June 18th. They issued a buy rating and a $26.00 target price for the company. BMO Capital Markets started coverage on shares of Scholar Rock in a research note on Monday, June 18th. They set an outperform rating and a $31.00 price objective for the company. Finally, Wedbush started coverage on shares of Scholar Rock in a research note on Monday, June 18th. They set an outperform rating and a $25.00 price objective for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Scholar Rock presently has a consensus rating of Buy and a consensus price target of $27.33.

NASDAQ:SRRK traded up $0.50 during mid-day trading on Thursday, reaching $18.36. The stock had a trading volume of 25,888 shares, compared to its average volume of 69,302. Scholar Rock has a twelve month low of $13.09 and a twelve month high of $27.02.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Wednesday, August 8th. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.85). On average, sell-side analysts anticipate that Scholar Rock will post -4.5 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in Scholar Rock in the 2nd quarter worth approximately $151,000. TD Asset Management Inc. purchased a new stake in Scholar Rock in the 2nd quarter worth approximately $183,000. Quantitative Systematic Strategies LLC purchased a new stake in Scholar Rock in the 2nd quarter worth approximately $193,000. Laurion Capital Management LP purchased a new stake in Scholar Rock in the 2nd quarter worth approximately $234,000. Finally, Dean Capital Investments Management LLC purchased a new stake in Scholar Rock in the 2nd quarter worth approximately $604,000. 48.37% 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 and development of various medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company is developing its lead antibody product candidate, SRK-015, a first-in-class inhibitor of the activation of myostatin that is in clinical development stage for the treatment of spinal muscular atrophy.

See Also: What is the NASDAQ?

Get a free copy of the Zacks research report on Scholar Rock (SRRK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Scholar Rock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scholar Rock and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply