Scholar Rock (NASDAQ:SRRK) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.
A number of other equities research analysts also recently issued reports on SRRK. Zacks Investment Research downgraded Scholar Rock from a “buy” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird assumed coverage on Scholar Rock in a research report on Wednesday, March 11th. They set an “outperform” rating and a $35.00 price target for the company. Finally, BidaskClub raised Scholar Rock from a “hold” rating to a “buy” rating in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Scholar Rock presently has an average rating of “Buy” and a consensus price target of $26.33.
SRRK stock opened at $15.06 on Wednesday. The stock has a 50-day moving average price of $14.55 and a two-hundred day moving average price of $11.39. Scholar Rock has a 12-month low of $6.95 and a 12-month high of $23.35. The company has a current ratio of 5.64, a quick ratio of 5.64 and a debt-to-equity ratio of 0.04. The company has a market cap of $408.67 million, a PE ratio of -8.18 and a beta of -0.03.
Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.57) by $0.17. Scholar Rock had a negative return on equity of 44.24% and a negative net margin of 248.88%. The firm had revenue of $7.57 million during the quarter, compared to the consensus estimate of $5.45 million. Equities analysts forecast that Scholar Rock will post -1.67 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of SRRK. Royce & Associates LP purchased a new stake in shares of Scholar Rock in the fourth quarter worth about $32,000. Citigroup Inc. boosted its position in shares of Scholar Rock by 414.4% in the fourth quarter. Citigroup Inc. now owns 5,875 shares of the company’s stock worth $77,000 after buying an additional 4,733 shares during the period. Metropolitan Life Insurance Co NY purchased a new stake in shares of Scholar Rock in the first quarter worth about $108,000. Russell Investments Group Ltd. purchased a new stake in shares of Scholar Rock in the third quarter worth about $138,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Scholar Rock in the third quarter worth about $161,000. 63.19% of the stock is owned by institutional investors.
About Scholar Rock
Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery and development of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. Its lead antibody product candidate is SRK-015, an inhibitor of the activation of myostatin, which is in Phase I clinical trials for the treatment of spinal muscular atrophy.
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