Scholar Rock (SRRK) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Scholar Rock (NASDAQ:SRRK) from a sell rating to a hold rating in a report published on Saturday, Zacks.com reports.

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. “

SRRK has been the topic of a number of other research reports. ValuEngine raised shares of Scholar Rock from a hold rating to a buy rating in a research note on Tuesday, May 7th. Cowen reaffirmed a buy rating on shares of Scholar Rock in a research note on Wednesday, February 27th. Finally, Wedbush reaffirmed an outperform rating and set a $27.00 price objective on shares of Scholar Rock in a research note on Wednesday, May 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $27.25.

Shares of NASDAQ SRRK opened at $21.21 on Friday. The company has a market cap of $561.24 million and a PE ratio of -6.73. Scholar Rock has a 12 month low of $13.09 and a 12 month high of $30.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.72 and a current ratio of 4.76.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.08. The firm had revenue of $3.11 million for the quarter, compared to analyst estimates of $5.05 million. As a group, analysts forecast that Scholar Rock will post -2.3 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of SRRK. BNP Paribas Arbitrage SA acquired a new stake in Scholar Rock in the 1st quarter valued at $59,000. Federated Investors Inc. PA grew its stake in Scholar Rock by 26.5% in the 1st quarter. Federated Investors Inc. PA now owns 3,577 shares of the company’s stock valued at $67,000 after acquiring an additional 750 shares during the period. Citigroup Inc. grew its stake in Scholar Rock by 122.8% in the 1st quarter. Citigroup Inc. now owns 3,970 shares of the company’s stock valued at $74,000 after acquiring an additional 2,188 shares during the period. Metropolitan Life Insurance Co NY acquired a new stake in Scholar Rock in the 1st quarter valued at $108,000. Finally, New York State Common Retirement Fund acquired a new stake in Scholar Rock in the 4th quarter valued at $147,000. 51.64% of the stock is currently owned by institutional investors and hedge funds.

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 is Preferred Stock Different from Common Stock?

Get a free copy of the Zacks research report on Scholar Rock (SRRK)

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.