Credit Suisse Group assumed coverage on shares of Scholar Rock (NASDAQ:SRRK) in a report issued on Monday, AR Network reports. The brokerage issued an outperform rating and a $65.00 target price on the stock.
SRRK has been the subject of a number of other research reports. ValuEngine lowered Scholar Rock from a buy rating to a hold rating in a research report on Tuesday, October 27th. Wedbush raised their target price on Scholar Rock from $33.00 to $47.00 and gave the company an outperform rating in a report on Tuesday, November 10th. BidaskClub downgraded Scholar Rock from a buy rating to a hold rating in a research report on Saturday, October 3rd. BMO Capital Markets lifted their price objective on Scholar Rock from $33.00 to $52.00 and gave the company an outperform rating in a research report on Wednesday, October 28th. Finally, Zacks Investment Research upgraded Scholar Rock from a sell rating to a hold rating in a research report on Tuesday, December 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Scholar Rock has a consensus rating of Buy and an average target price of $46.50.
SRRK stock opened at $53.49 on Monday. Scholar Rock has a 52-week low of $9.23 and a 52-week high of $55.16. The stock’s 50 day moving average is $47.62 and its two-hundred day moving average is $26.94. The company has a market capitalization of $1.80 billion, a PE ratio of -24.65 and a beta of 0.68.
Scholar Rock (NASDAQ:SRRK) last released its quarterly earnings data on Saturday, November 14th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.26). Scholar Rock had a negative net margin of 301.13% and a negative return on equity of 61.68%. The company had revenue of $3.04 million for the quarter, compared to analyst estimates of $6.55 million. Equities research analysts anticipate that Scholar Rock will post -2.3 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. Morgan Stanley grew its position in Scholar Rock by 36.7% in the first quarter. Morgan Stanley now owns 209,104 shares of the company’s stock valued at $2,532,000 after acquiring an additional 56,099 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Scholar Rock in the 2nd quarter valued at approximately $728,000. California Public Employees Retirement System increased its holdings in Scholar Rock by 189.9% in the 2nd quarter. California Public Employees Retirement System now owns 50,293 shares of the company’s stock valued at $916,000 after purchasing an additional 32,947 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Scholar Rock in the 2nd quarter valued at approximately $551,000. Finally, Nuveen Asset Management LLC increased its holdings in Scholar Rock by 25.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 124,618 shares of the company’s stock valued at $2,270,000 after purchasing an additional 25,263 shares during the last quarter. 66.27% of the stock is currently owned by institutional investors.
About Scholar Rock
Scholar Rock Holding Corporation, a clinical-stage 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, a novel inhibitor of the activation of myostatin, which is in Phase II clinical trials for the treatment of spinal muscular atrophy.
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