Zacks Investment Research upgraded shares of Scholar Rock (NASDAQ:SRRK) from a sell rating to a buy rating in a report issued on Wednesday, Zacks.com reports. Zacks Investment Research currently has $13.00 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. “
Separately, Cowen reissued a buy rating on shares of Scholar Rock in a report on Tuesday, November 19th.
Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.22). The business had revenue of $4.77 million during the quarter, compared to analyst estimates of $12.73 million. Analysts forecast that Scholar Rock will post -2.04 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC bought a new position in Scholar Rock during the third quarter valued at $363,000. Squarepoint Ops LLC grew its holdings in Scholar Rock by 30.8% during the third quarter. Squarepoint Ops LLC now owns 79,528 shares of the company’s stock valued at $712,000 after purchasing an additional 18,739 shares during the period. Public Employees Retirement System of Ohio bought a new position in Scholar Rock during the third quarter valued at $161,000. California State Teachers Retirement System grew its holdings in Scholar Rock by 14.6% during the third quarter. California State Teachers Retirement System now owns 27,350 shares of the company’s stock valued at $245,000 after purchasing an additional 3,480 shares during the period. Finally, State Street Corp grew its holdings in Scholar Rock by 14.8% during the third quarter. State Street Corp now owns 322,531 shares of the company’s stock valued at $2,887,000 after purchasing an additional 41,567 shares during the period. 59.58% of the stock is owned by institutional investors and hedge funds.
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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