Wedbush restated their outperform rating on shares of Scholar Rock (NASDAQ:SRRK) in a research note released on Wednesday morning, RTT News reports. The brokerage currently has a $27.00 price objective on the stock.
Several other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded Scholar Rock from a hold rating to a sell rating in a research report on Wednesday, April 10th. Cowen reissued a buy rating on shares of Scholar Rock in a research report on Wednesday, February 27th. Finally, ValuEngine raised Scholar Rock from a hold rating to a buy rating in a research report on Tuesday, May 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $27.25.
Shares of SRRK stock traded up $1.21 during trading hours on Wednesday, reaching $22.14. 931 shares of the company’s stock were exchanged, compared to its average volume of 96,109. The company has a market cap of $548.72 million and a PE ratio of -7.00. Scholar Rock has a fifty-two week low of $13.09 and a fifty-two week high of $30.00.
Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.08. The business had revenue of $3.11 million for the quarter, compared to analyst estimates of $5.05 million. As a group, sell-side analysts forecast that Scholar Rock will post -2.55 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA acquired a new position in shares of Scholar Rock in the 1st quarter valued at $59,000. Federated Investors Inc. PA increased its position in shares of Scholar Rock by 26.5% in the 1st quarter. Federated Investors Inc. PA now owns 3,577 shares of the company’s stock valued at $67,000 after acquiring an additional 750 shares during the period. Citigroup Inc. increased its position in shares of Scholar Rock by 122.8% in the 1st quarter. Citigroup Inc. now owns 3,970 shares of the company’s stock valued at $74,000 after acquiring an additional 2,188 shares during the period. New York State Common Retirement Fund purchased a new stake in Scholar Rock in the fourth quarter valued at $147,000. Finally, MetLife Investment Advisors LLC purchased a new stake in Scholar Rock in the first quarter valued at $150,000. 51.64% of the stock is currently owned by hedge funds and other institutional investors.
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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