Scholar Rock (NASDAQ:SRRK) Posts Earnings Results, Beats Estimates By $0.01 EPS

Scholar Rock (NASDAQ:SRRK) announced its earnings results on Thursday. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.01, Briefing.com reports. During the same period in the prior year, the company posted ($0.47) EPS.

Scholar Rock Stock Up 3.4 %

Shares of NASDAQ SRRK traded up $0.28 during trading on Friday, reaching $8.45. The company had a trading volume of 567,492 shares, compared to its average volume of 831,126. Scholar Rock has a 12-month low of $5.93 and a 12-month high of $21.17. The stock has a market cap of $673.89 million, a PE ratio of -4.04 and a beta of 0.85. The business’s 50-day moving average is $8.76 and its 200 day moving average is $12.59. The company has a quick ratio of 6.58, a current ratio of 6.58 and a debt-to-equity ratio of 0.24.

Insider Transactions at Scholar Rock

In other news, General Counsel Junlin Ho sold 4,695 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $8.98, for a total value of $42,161.10. Following the sale, the general counsel now directly owns 204,076 shares of the company’s stock, valued at $1,832,602.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Edward H. Myles sold 9,458 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $8.98, for a total transaction of $84,932.84. Following the sale, the chief financial officer now directly owns 201,518 shares of the company’s stock, valued at $1,809,631.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Junlin Ho sold 4,695 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $8.98, for a total value of $42,161.10. Following the sale, the general counsel now directly owns 204,076 shares in the company, valued at $1,832,602.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,468 shares of company stock valued at $147,883. Insiders own 26.20% of the company’s stock.

Analysts Set New Price Targets

SRRK has been the topic of several recent research reports. BMO Capital Markets upped their price target on Scholar Rock from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Scholar Rock in a research note on Tuesday, June 25th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $23.00 price target on shares of Scholar Rock in a research note on Thursday. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $26.43.

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.