Scholar Rock (NASDAQ:SRRK) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Scholar Rock (NASDAQ:SRRK) from a hold rating to a buy rating in a report released on Tuesday, Zacks.com reports. They currently have $12.00 price target on the stock.
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 issued reports on SRRK. ValuEngine upgraded Scholar Rock from a hold rating to a buy rating in a research report on Thursday, August 1st. Wedbush restated an outperform rating and set a $27.00 target price on shares of Scholar Rock in a research report on Wednesday, May 15th.
Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.48) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.07). The business had revenue of $5.04 million during the quarter, compared to the consensus estimate of $5.38 million. As a group, equities research analysts anticipate that Scholar Rock will post -1.7 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its position in shares of Scholar Rock by 1,982.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,437 shares of the company’s stock valued at $38,000 after buying an additional 2,320 shares during the period. BNP Paribas Arbitrage SA purchased a new stake in shares of Scholar Rock in the first quarter valued at approximately $59,000. Metropolitan Life Insurance Co NY purchased a new stake in shares of Scholar Rock in the first quarter valued at approximately $108,000. MetLife Investment Advisors LLC purchased a new stake in shares of Scholar Rock in the first quarter valued at approximately $150,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Scholar Rock in the second quarter valued at approximately $157,000. Institutional investors and hedge funds own 56.04% of the company’s stock.
Scholar Rock Company Profile
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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