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

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

Scholar Rock Stock Down 2.5 %

Scholar Rock stock opened at $14.69 on Wednesday. The firm’s 50 day moving average price is $15.20 and its two-hundred day moving average price is $14.95. The firm has a market cap of $1.17 billion, a PE ratio of -7.38 and a beta of 0.94. Scholar Rock has a twelve month low of $5.56 and a twelve month high of $21.17. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.80 and a current ratio of 8.80.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, CFO Edward H. Myles sold 4,744 shares of the firm’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 $74,670.56. Following the transaction, the chief financial officer now owns 210,976 shares in the company, valued at approximately $3,320,762.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Junlin Ho sold 3,489 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $54,916.86. Following the sale, the general counsel now directly owns 208,771 shares of the company’s stock, valued at $3,286,055.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Edward H. Myles sold 4,744 shares of Scholar Rock stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.74, for a total value of $74,670.56. Following the sale, the chief financial officer now directly owns 210,976 shares in the company, valued at $3,320,762.24. The disclosure for this sale can be found here. Insiders sold 22,359 shares of company stock valued at $351,931 over the last ninety days. Corporate insiders own 26.20% of the company’s stock.

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.