Zacks: Scholar Rock Holding Corp (SRRK) Receives Consensus Recommendation of “Strong Buy” from Analysts

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Scholar Rock Holding Corp (NASDAQ:SRRK) has been given an average broker rating score of 1.00 (Strong Buy) from the four analysts that cover the company, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy recommendation.

Analysts have set a one year consensus price objective of $27.33 for the company and are anticipating that the company will post ($0.74) earnings per share for the current quarter, according to Zacks. Zacks has also given Scholar Rock an industry rank of 94 out of 255 based on the ratings given to its competitors.

A number of research analysts have recently commented on SRRK shares. Cowen started coverage on Scholar Rock in a research report on Monday, June 18th. They set an “outperform” rating on the stock. Zacks Investment Research raised Scholar Rock from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Wedbush started coverage on Scholar Rock in a research report on Monday, June 18th. They set an “outperform” rating and a $25.00 price target on the stock. Jefferies Financial Group started coverage on Scholar Rock in a research report on Monday, June 18th. They set a “buy” rating and a $26.00 price target on the stock. Finally, BMO Capital Markets started coverage on Scholar Rock in a research report on Monday, June 18th. They set an “outperform” rating and a $31.00 price target on the stock.

NASDAQ:SRRK traded up $2.79 during trading on Monday, reaching $22.95. The company’s stock had a trading volume of 44,512 shares, compared to its average volume of 41,638. Scholar Rock has a 12 month low of $13.09 and a 12 month high of $27.02.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings results on Wednesday, August 8th. The company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.85). equities analysts forecast that Scholar Rock will post -4.5 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC purchased a new position in shares of Scholar Rock during the 2nd quarter valued at $54,625,000. Redmile Group LLC purchased a new position in shares of Scholar Rock during the 2nd quarter valued at $27,306,000. Victory Capital Management Inc. purchased a new position in shares of Scholar Rock during the 2nd quarter valued at $1,475,000. Millennium Management LLC purchased a new position in shares of Scholar Rock during the 2nd quarter valued at $1,349,000. Finally, Marshall Wace LLP purchased a new position in shares of Scholar Rock during the 2nd quarter valued at $1,216,000. 48.37% of the stock is currently owned by hedge funds and other institutional investors.

About Scholar Rock

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery and development of various medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company is developing its lead antibody product candidate, SRK-015, a first-in-class inhibitor of the activation of myostatin that is in clinical development stage for the treatment of spinal muscular atrophy.

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