Scholar Rock (SRRK) Releases Earnings Results, Beats Estimates By $0.08 EPS

Scholar Rock (NASDAQ:SRRK) posted its quarterly earnings results on Tuesday. The company reported ($0.42) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.08, Fidelity Earnings reports. The company had revenue of $3.11 million during the quarter, compared to the consensus estimate of $5.05 million.

SRRK stock traded down $0.63 during mid-day trading on Wednesday, reaching $18.97. The company had a trading volume of 528 shares, compared to its average volume of 80,730. The company has a market cap of $516.75 million and a price-to-earnings ratio of -6.02. Scholar Rock has a 52 week low of $13.09 and a 52 week high of $30.00.

An institutional investor recently raised its position in Scholar Rock stock. Geode Capital Management LLC raised its stake in Scholar Rock Holding Corp (NASDAQ:SRRK) by 54.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,988 shares of the company’s stock after purchasing an additional 28,276 shares during the quarter. Geode Capital Management LLC owned approximately 0.32% of Scholar Rock worth $1,837,000 at the end of the most recent reporting period. 51.64% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on the company. ValuEngine upgraded Scholar Rock from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Zacks Investment Research upgraded Scholar Rock from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Wedbush restated an “outperform” rating and issued a $27.00 price target on shares of Scholar Rock in a research note on Wednesday. Finally, Cowen restated a “buy” rating on shares of Scholar Rock in a research note on Wednesday, February 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $27.25.

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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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