Scholar Rock (NASDAQ:SRRK) Issues Earnings Results

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

Scholar Rock Stock Performance

Shares of SRRK stock opened at $14.50 on Thursday. Scholar Rock has a 52 week low of $5.56 and a 52 week high of $21.17. The firm’s 50-day simple moving average is $15.15 and its two-hundred day simple moving average is $14.95. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -7.29 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.

Insider Transactions at Scholar Rock

In other Scholar Rock news, CFO Edward H. Myles sold 4,744 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $74,670.56. Following the completion of the sale, the chief financial officer now directly owns 210,976 shares of the company’s stock, valued at $3,320,762.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Edward H. Myles sold 4,744 shares of the business’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 $74,670.56. Following the completion of the transaction, the chief financial officer now owns 210,976 shares of the company’s stock, valued at $3,320,762.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jay T. Backstrom sold 11,614 shares of the company’s stock in a transaction on Friday, February 16th. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 22,359 shares of company stock worth $351,931 in the last quarter. Insiders own 26.20% of the company’s stock.

Analyst Ratings Changes

SRRK has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Scholar Rock in a report on Wednesday. Raymond James assumed coverage on Scholar Rock in a report on Thursday, March 28th. They issued a “strong-buy” rating and a $30.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Scholar Rock in a research note on Tuesday, March 26th. Truist Financial reaffirmed a “buy” rating and issued a $20.00 price target on shares of Scholar Rock in a research note on Wednesday, April 3rd. Finally, Wedbush restated an “outperform” rating and issued a $23.00 target price on shares of Scholar Rock in a research note on Tuesday. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $25.17.

Scholar Rock Company Profile

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.