Scholar Rock (NASDAQ:SRRK) Upgraded 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 research note published on Friday, Zacks.com reports. The firm currently has $14.00 price objective 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. “
Separately, ValuEngine upgraded Scholar Rock from a hold rating to a buy rating in a report on Thursday, August 1st.
Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.07). The company had revenue of $5.04 million during the quarter, compared to analyst estimates of $5.38 million. As a group, sell-side analysts predict that Scholar Rock will post -1.7 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of SRRK. Price T Rowe Associates Inc. MD grew its stake in Scholar Rock by 57.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,303,747 shares of the company’s stock valued at $20,677,000 after acquiring an additional 477,174 shares during the period. Jefferies Group LLC acquired a new position in Scholar Rock in the second quarter valued at about $4,603,000. Redmile Group LLC grew its stake in Scholar Rock by 16.4% in the first quarter. Redmile Group LLC now owns 2,051,089 shares of the company’s stock valued at $38,540,000 after acquiring an additional 289,682 shares during the period. Vanguard Group Inc. grew its stake in Scholar Rock by 48.5% in the second quarter. Vanguard Group Inc. now owns 868,824 shares of the company’s stock valued at $13,780,000 after acquiring an additional 283,880 shares during the period. Finally, CVI Holdings LLC acquired a new position in Scholar Rock in the second quarter valued at about $2,655,000. 58.52% of the stock is owned by hedge funds and other 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.
Read More: How to trade the most active stocks
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.