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

Scholar Rock (NASDAQ:SRRK) issued its quarterly earnings results on Tuesday. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.11), Briefing.com reports. During the same period in the previous year, the business earned ($0.46) earnings per share.

Scholar Rock Stock Down 2.5 %

Scholar Rock stock opened at $14.69 on Wednesday. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -7.38 and a beta of 0.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.80 and a current ratio of 8.80. Scholar Rock has a fifty-two week low of $5.56 and a fifty-two week high of $21.17. The stock’s fifty day moving average is $15.20 and its two-hundred day moving average is $14.95.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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

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.