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

Scholar Rock (NASDAQ:SRRK - Get Free Report) issued its 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 period in the prior year, the firm posted ($0.46) EPS.

Scholar Rock Price Performance

SRRK stock traded down $0.19 during trading on Wednesday, hitting $14.50. 614,212 shares of the company's stock traded hands, compared to its average volume of 767,036. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -7.37 and a beta of 0.94. Scholar Rock has a 52 week low of $5.56 and a 52 week 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. The business has a fifty day simple moving average of $15.20 and a 200 day simple moving average of $14.95.

Insiders Place Their Bets

In other news, insider Mo Qatanani sold 2,512 shares of Scholar Rock stock in a transaction that occurred 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 completion of the transaction, the insider now owns 147,019 shares in the company, valued at approximately $2,314,079.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 transaction, the chief executive officer now owns 352,671 shares of the company's stock, valued at approximately $5,551,041.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mo Qatanani sold 2,512 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider now directly 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. Insiders have sold 22,359 shares of company stock valued at $351,931 over the last ninety days. 26.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SRRK. Truist Financial reiterated a "buy" rating and set a $20.00 price target on shares of Scholar Rock in a research note on Wednesday, April 3rd. HC Wainwright reiterated a "buy" rating and set a $30.00 price objective on shares of Scholar Rock in a research note on Wednesday. Piper Sandler reissued an "overweight" rating and issued a $28.00 target price on shares of Scholar Rock in a report on Tuesday, March 26th. Raymond James started coverage on shares of Scholar Rock in a report on Thursday, March 28th. They set a "strong-buy" rating and a $30.00 price target on the stock. Finally, Wedbush restated an "outperform" rating and set a $23.00 price objective on shares of Scholar Rock in a research report on Tuesday. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock 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.