Scholar Rock (SRRK) Raised to Hold at Zacks Investment Research

Scholar Rock (NASDAQ:SRRK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday, September 13th.

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. “

Several other brokerages have also recently commented on SRRK. Cowen initiated coverage on Scholar Rock in a report on Monday, June 18th. They set an “outperform” rating on the stock. Wedbush initiated coverage on Scholar Rock in a report on Monday, June 18th. They set an “outperform” rating and a $25.00 target price on the stock. Jefferies Financial Group started coverage on Scholar Rock in a report on Monday, June 18th. They set a “buy” rating and a $26.00 target price on the stock. Finally, BMO Capital Markets started coverage on Scholar Rock in a report on Monday, June 18th. They issued an “outperform” rating and a $31.00 price target on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $27.33.

Shares of SRRK stock traded down $1.05 during trading hours on Thursday, hitting $21.98. 194,500 shares of the company’s stock were exchanged, compared to its average volume of 71,206. Scholar Rock has a 52 week low of $13.09 and a 52 week high of $27.02.

Scholar Rock (NASDAQ:SRRK) last announced its earnings results on Wednesday, August 8th. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.85). As a group, equities analysts predict that Scholar Rock will post -4.5 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. TD Asset Management Inc. bought a new position in Scholar Rock in the second quarter valued at about $183,000. Redmile Group LLC bought a new position in Scholar Rock in the second quarter valued at about $27,306,000. Dean Capital Investments Management LLC bought a new position in Scholar Rock in the second quarter valued at about $604,000. Quantitative Systematic Strategies LLC bought a new position in Scholar Rock in the second quarter valued at about $193,000. Finally, Marshall Wace LLP bought a new position in Scholar Rock in the second quarter valued at about $1,216,000. Institutional investors and hedge funds own 48.37% of the company’s stock.

About Scholar Rock

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.

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