Scholar Rock (NASDAQ:SRRK) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Scholar Rock (NASDAQ:SRRKGet Rating) from a hold rating to a buy rating in a report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $6.50 price objective 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. “

Several other equities research analysts have also weighed in on the stock. Wedbush reiterated an outperform rating and set a $50.00 price objective on shares of Scholar Rock in a research note on Monday, March 7th. HC Wainwright started coverage on Scholar Rock in a research report on Wednesday, March 23rd. They set a buy rating and a $24.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Buy and an average price target of $32.90.

Shares of NASDAQ SRRK opened at $5.58 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.13 and a current ratio of 4.13. The stock’s 50 day moving average price is $10.75 and its two-hundred day moving average price is $18.71. Scholar Rock has a 52-week low of $5.45 and a 52-week high of $44.95.

Scholar Rock (NASDAQ:SRRKGet Rating) last issued its quarterly earnings results on Monday, March 7th. The company reported ($0.97) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.08. The business had revenue of $4.05 million during the quarter, compared to the consensus estimate of $4.33 million. Scholar Rock had a negative return on equity of 64.57% and a negative net margin of 700.46%. During the same period in the previous year, the business earned ($2.81) EPS. On average, analysts anticipate that Scholar Rock will post -4.12 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY bought a new stake in shares of Scholar Rock during the first quarter valued at about $108,000. Royal Bank of Canada raised its position in shares of Scholar Rock by 144.5% during the 2nd quarter. Royal Bank of Canada now owns 1,897 shares of the company’s stock worth $55,000 after buying an additional 1,121 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Scholar Rock by 3.5% in the 2nd quarter. Bank of America Corp DE now owns 15,133 shares of the company’s stock worth $438,000 after acquiring an additional 516 shares during the period. Morgan Stanley boosted its holdings in shares of Scholar Rock by 312.4% in the second quarter. Morgan Stanley now owns 352,251 shares of the company’s stock valued at $10,180,000 after acquiring an additional 266,841 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Scholar Rock by 313.3% during the third quarter. SG Americas Securities LLC now owns 15,289 shares of the company’s stock worth $505,000 after purchasing an additional 11,590 shares in the last quarter. 84.22% of the stock is owned by institutional investors.

About Scholar Rock (Get Rating)

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. The company develops Apitegromab, an inhibitor of the activation of latent myostatin that has completed the Phase 3 clinical trials for the treatment of spinal muscular atrophy; and SRK-181, which is in Phase 1 clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies.

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