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

Scholar Rock (NASDAQ:SRRK) posted its 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 quarter last year, the firm earned ($0.46) earnings per share.

Scholar Rock Stock Down 2.5 %

Shares of NASDAQ SRRK opened at $14.69 on Wednesday. Scholar Rock has a 12-month low of $5.56 and a 12-month high of $21.17. The company has a market capitalization of $1.17 billion, a PE ratio of -7.38 and a beta of 0.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.80 and a quick ratio of 8.80. The firm’s 50-day moving average is $15.20 and its two-hundred day moving average is $14.95.

Insider Buying and Selling at Scholar Rock

In other Scholar Rock news, CFO Edward H. Myles sold 4,744 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $74,670.56. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Scholar Rock news, CFO Edward H. Myles sold 4,744 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $74,670.56. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jay T. Backstrom sold 11,614 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 $182,804.36. Following the completion of the transaction, 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 valued at $351,931 over the last quarter. Corporate insiders own 26.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SRRK shares. Wedbush restated an “outperform” rating and set a $23.00 target price on shares of Scholar Rock in a research report on Tuesday. Truist Financial reaffirmed a “buy” rating and issued a $20.00 target price on shares of Scholar Rock in a report on Wednesday, April 3rd. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Scholar Rock in a research note on Tuesday, March 19th. Raymond James initiated 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. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Scholar Rock in a report on Tuesday, March 26th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Scholar Rock has an average rating of “Buy” and an average target price 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.