Scholar Rock (NASDAQ:SRRK) Downgraded by Zacks Investment Research

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Zacks Investment Research downgraded shares of Scholar Rock (NASDAQ:SRRK) from a buy rating to a hold rating in a research report released on Thursday, Zacks.com reports.

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. “

SRRK has been the subject of several other research reports. Wedbush reissued an outperform rating and set a $124.00 price objective on shares of New Relic in a research report on Wednesday, May 15th. ValuEngine raised shares of Ultrapar Participacoes from a strong sell rating to a sell rating in a research report on Tuesday, June 4th.

Shares of SRRK stock opened at $13.15 on Thursday. The stock’s fifty day moving average is $16.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.76 and a quick ratio of 4.76. Scholar Rock has a 12-month low of $13.01 and a 12-month high of $30.00. The company has a market capitalization of $344.87 million, a P/E ratio of -4.17 and a beta of 0.02.

Scholar Rock (NASDAQ:SRRK) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.08. The company had revenue of $3.11 million for the quarter, compared to the consensus estimate of $5.05 million. As a group, sell-side analysts predict that Scholar Rock will post -1.83 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Scholar Rock by 0.4% in the fourth quarter. BlackRock Inc. now owns 369,810 shares of the company’s stock valued at $8,494,000 after purchasing an additional 1,447 shares in the last quarter. BNP Paribas Arbitrage SA bought a new position in Scholar Rock in the first quarter valued at $59,000. Northern Trust Corp grew its position in Scholar Rock by 5.7% in the fourth quarter. Northern Trust Corp now owns 69,825 shares of the company’s stock valued at $1,604,000 after purchasing an additional 3,791 shares in the last quarter. Bank of New York Mellon Corp grew its position in Scholar Rock by 32.0% in the fourth quarter. Bank of New York Mellon Corp now owns 17,998 shares of the company’s stock valued at $413,000 after purchasing an additional 4,365 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY bought a new position in Scholar Rock in the first quarter valued at $108,000. 52.76% of the stock is owned by institutional investors and hedge funds.

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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