Why Scholar Rock Stock Bounced Higher on Monday
Monday was a good day to be invested in Scholar Rock (NASDAQ: SRRK) stock. The clinical-stage biotech received a nod from an analyst initiating coverage on its shares, a move that sent its price more than 6% higher across the day. That rate was well higher than the 0.5% increase of the S 500 index.
Well before market open, Leerink Partners' Mani Foroohar launched his coverage of Scholar Rock, rating the healthcare stock as an outperform (i.e., buy) at a price target of $51 per share. That anticipates considerable growth in the value of the company's equity, as it's -- coincidentally -- more than 51% higher than Scholar Rock's most recent closing price.
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Source Fool.com
