Scholar Rock (NASDAQ:SRRK) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Scholar Rock (NASDAQ:SRRK) from a buy rating to a hold rating in a research report report published on Wednesday, 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. “

A number of other equities analysts have also issued reports on SRRK. Wedbush restated an outperform rating and issued a $27.00 target price on shares of Scholar Rock in a research note on Wednesday, May 15th. ValuEngine upgraded Scholar Rock from a hold rating to a buy rating in a research note on Thursday, August 1st.



SRRK stock traded up $0.97 during midday trading on Wednesday, reaching $13.07. The stock had a trading volume of 69,520 shares, compared to its average volume of 112,711. The stock has a market cap of $387.92 million, a PE ratio of -4.15 and a beta of 0.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.88 and a current ratio of 5.88. The firm has a fifty day simple moving average of $11.12 and a two-hundred day simple moving average of $16.10. Scholar Rock has a 52-week low of $9.30 and a 52-week high of $30.00.

Scholar Rock (NASDAQ:SRRK) last issued its earnings results on Wednesday, August 14th. The company reported ($0.48) earnings per share (EPS) 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 the consensus estimate of $5.38 million. On average, sell-side analysts predict that Scholar Rock will post -1.7 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its stake in Scholar Rock by 1,982.9% in the 2nd 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 stake in Scholar Rock during the 1st quarter worth about $59,000. Metropolitan Life Insurance Co NY acquired a new stake in Scholar Rock during the 1st quarter worth about $108,000. MetLife Investment Advisors LLC acquired a new stake in Scholar Rock during the 1st quarter worth about $150,000. Finally, SG Americas Securities LLC acquired a new stake in Scholar Rock during the 2nd quarter worth about $157,000. Institutional investors own 58.52% of the company’s stock.

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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