Scholar Rock (NASDAQ:SRRK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Zacks.com reports. The brokerage currently has a $14.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 7.36% from the company’s current price.
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 raised Scholar Rock from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.
Scholar Rock stock opened at $13.04 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.88 and a quick ratio of 5.88. Scholar Rock has a 1-year low of $9.30 and a 1-year high of $30.00. The company has a market cap of $341.32 million, a PE ratio of -4.14 and a beta of 0.08. The stock’s 50 day moving average price is $11.12 and its 200 day moving average price is $16.10.
Scholar Rock (NASDAQ:SRRK) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.48) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.07). The company had revenue of $5.04 million during the quarter, compared to analysts’ expectations of $5.38 million. On average, equities research analysts anticipate that Scholar Rock will post -1.7 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in shares of Scholar Rock by 1,982.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,437 shares of the company’s stock worth $38,000 after acquiring an additional 2,320 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new position in Scholar Rock in the first quarter valued at $59,000. Metropolitan Life Insurance Co NY acquired a new position in Scholar Rock in the first quarter valued at $108,000. MetLife Investment Advisors LLC acquired a new position in Scholar Rock in the first quarter valued at $150,000. Finally, SG Americas Securities LLC acquired a new position in Scholar Rock in the second quarter valued at $157,000. 58.52% of the stock is owned by 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.
See Also: Are FAANG stocks a good investment?
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.