Scholar Rock (NASDAQ:SRRK) Issues Quarterly Earnings Results, Misses Expectations By $0.11 EPS

Scholar Rock (NASDAQ:SRRK) released its quarterly earnings results on Tuesday. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11), Briefing.com reports. During the same period in the prior year, the business posted ($0.46) earnings per share.

Scholar Rock Stock Down 2.5 %

Shares of Scholar Rock stock opened at $14.69 on Wednesday. Scholar Rock has a 52-week low of $5.56 and a 52-week high of $21.17. The company has a 50 day moving average of $15.20 and a 200 day moving average of $14.95. The company has a quick ratio of 8.80, a current ratio of 8.80 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.17 billion, a P/E ratio of -7.38 and a beta of 0.94.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SRRK shares. Raymond James assumed coverage on Scholar Rock in a research note on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and set a $28.00 price target on shares of Scholar Rock in a research note on Tuesday, March 26th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Scholar Rock in a research note on Tuesday, March 19th. Wedbush restated an “outperform” rating and issued a $23.00 price objective on shares of Scholar Rock in a report on Tuesday. Finally, Truist Financial reiterated a “buy” rating and set a $20.00 target price on shares of Scholar Rock in a report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $25.17.

Insider Activity

In related news, insider Mo Qatanani sold 2,512 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $39,538.88. Following the transaction, the insider now owns 147,019 shares of the company’s stock, valued at $2,314,079.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Scholar Rock news, CEO Jay T. Backstrom sold 11,614 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $182,804.36. Following the sale, the chief executive officer now owns 352,671 shares of the company’s stock, valued at $5,551,041.54. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mo Qatanani sold 2,512 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.74, for a total transaction of $39,538.88. Following the completion of the transaction, the insider now owns 147,019 shares of the company’s stock, valued at approximately $2,314,079.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,359 shares of company stock worth $351,931. 26.20% of the stock is currently owned by corporate insiders.

About Scholar Rock

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery, development, and delivery of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, an inhibitor of the activation of myostatin that is in Phase 3 clinical trial for the treatment of spinal muscular atrophy; and SRK-181, which has completed Phase 1 clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies.