Scholar Rock (NASDAQ:SRRK) Rating Increased to Buy at BidaskClub

Scholar Rock (NASDAQ:SRRK) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, BidAskClub reports.

Separately, BMO Capital Markets reiterated a “buy” rating and set a $33.00 target price on shares of Scholar Rock in a research report on Monday, June 29th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Scholar Rock presently has an average rating of “Buy” and a consensus target price of $28.33.

Shares of SRRK opened at $18.17 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.46 and a quick ratio of 4.46. Scholar Rock has a 1 year low of $6.95 and a 1 year high of $21.92. The company has a 50 day simple moving average of $14.27 and a two-hundred day simple moving average of $15.57. The firm has a market cap of $542.83 million, a P/E ratio of -8.37 and a beta of 0.79.

Scholar Rock (NASDAQ:SRRK) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.12). Scholar Rock had a negative net margin of 301.13% and a negative return on equity of 61.68%. The company had revenue of $3.90 million for the quarter, compared to analysts’ expectations of $6.60 million. On average, sell-side analysts anticipate that Scholar Rock will post -2.3 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new stake in Scholar Rock in the first quarter worth $26,000. Bank of Montreal Can lifted its position in Scholar Rock by 11,300.0% in the second quarter. Bank of Montreal Can now owns 1,824 shares of the company’s stock worth $30,000 after buying an additional 1,808 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Scholar Rock by 63.4% in the second quarter. Ameritas Investment Partners Inc. now owns 2,007 shares of the company’s stock worth $37,000 after buying an additional 779 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Scholar Rock by 162.4% in the first quarter. BNP Paribas Arbitrage SA now owns 5,458 shares of the company’s stock worth $66,000 after buying an additional 3,378 shares during the last quarter. Finally, Citigroup Inc. lifted its position in Scholar Rock by 18.9% in the first quarter. Citigroup Inc. now owns 6,988 shares of the company’s stock worth $85,000 after buying an additional 1,113 shares during the last quarter. Hedge funds and other institutional investors own 66.27% of the company’s stock.

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.

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