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Scholar Rock Holding
(NASDAQ:SRRK)
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Rating:52Neutral
Price Target:
$44.00
▼(-24.46% Downside)
Action:Reiterated
Date:10/06/26
Overall score is held back primarily by weak financial performance (no revenue, widening losses, and heavy cash burn with rising debt) and bearish technicals (below major moving averages with negative MACD). The main offset is a relatively strong earnings-call setup with clear regulatory milestones, launch readiness, and substantial cash/liquidity options, while valuation remains difficult to assess meaningfully due to negative earnings and no dividend yield provided.
Positive Factors
FDA approval enables commercial launch
FDA approval converts apitegromab from a development program into a commercial product and supports immediate U.S. launch activity. This creates a potential recurring revenue base, strengthens Scholar Rock’s position in neuromuscular disease, and provides a foundation for broader physician and payer adoption.
Negative Factors
Heavy cash burn and widening losses
Scholar Rock remains dependent on external funding because operating and free cash flow are deeply negative while losses continue to widen. Sustained spending on research and commercialization could consume liquidity, increase financing needs, and limit the company’s flexibility if product revenue ramps slowly.
Read all positive and negative factors
Positive Factors
Negative Factors
FDA approval enables commercial launch
FDA approval converts apitegromab from a development program into a commercial product and supports immediate U.S. launch activity. This creates a potential recurring revenue base, strengthens Scholar Rock’s position in neuromuscular disease, and provides a foundation for broader physician and payer adoption.
Read all positive factors
Scholar Rock Holding (SRRK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.08B
Dividend YieldN/A
Average Volume (3M)2.30M
Price to Earnings (P/E)―
Beta (1Y)1.07
Revenue GrowthN/A
EPS Growth-14.40%
CountryUS
Employees289
SectorGeneral
Sector StrengthN/A
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.31
Shares Outstanding121,785,280
10 Day Avg. Volume1,887,536
30 Day Avg. Volume2,303,429
Financial Highlights & Ratios
PEG Ratio-0.40
Price to Book (P/B)20.58
Price to Sales (P/S)0.00
P/FCF Ratio-16.81
Enterprise Value/Market Cap1.36
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-70.58
Enterprise Value/Ebitda-17.39
Forecast
1Y Price Target
$69.67Price Target Upside19.60% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering16
EPS Forecast (FY)-3.33
Revenue Forecast (FY)$5.60M
Scholar Rock Holding Business Overview & Revenue Model
Company Description
Scholar Rock Holding Corporation is a biopharmaceutical firm dedicated to discovering and advancing treatments for severe medical conditions by targeting the crucial role of protein growth factor signaling. Their lead therapeutic candidate, Apiteg...
How the Company Makes Money
Scholar Rock primarily generates revenue from collaboration and licensing arrangements rather than from product sales, as it is a clinical-stage company. Key revenue streams typically include (1) upfront payments received when entering into strate...
Scholar Rock Holding Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call conveyed strong forward momentum: the BLA is accepted with a fixed PDUFA date, management has established two independent manufacturing paths (reducing single-site risk), commercial operations are launch-ready, the pipeline is advancing (Phase II OPAL recruitment, FORGE initiated, SRK-439 dosing), and the company finished the quarter with a healthy cash balance and financing optionality. Main negatives are the outstanding FDA inspection classification for Catalent Indiana (which also affects EMA timing), ongoing third-party manufacturing/regulatory timing risk, and expected payer/reimbursement friction that could delay patient access after approval. On balance, the positive regulatory progress, commercial preparedness, clinical achievements and solid cash position outweigh the operational and reimbursement risks discussed on the call.Positive Updates
BLA Accepted; PDUFA Date Set
Apitegromab BLA was accepted in April with a PDUFA date of September 30, 2026, giving a clear regulatory milestone and the company states the review is progressing well.
Negative Updates
Catalent Indiana Inspection Classification Pending
The sole approvability issue from the prior CRL related to observations from a general site inspection at Catalent Indiana; the FDA's inspection classification from the April 2026 reinspection remains pending and this uncertainty is being monitored by both the company and EMA.
Read all updates
Q2-2026 Updates
Positive
Negative
BLA Accepted; PDUFA Date Set
Apitegromab BLA was accepted in April with a PDUFA date of September 30, 2026, giving a clear regulatory milestone and the company states the review is progressing well.
Read all positive updates
Company Guidance
The company reiterated that apitegromab’s BLA (resubmitted March 30 with two fill/finish sites and accepted in April) remains under active FDA review with a September 30, 2026 PDUFA date (55 days from the call) and two independent approval paths (Catalent Indiana — inspection classification pending — and a second facility whose full data have been submitted, which currently has more commercial vials on hand than Catalent and vials staged at a third‑party packaging site); the EMA MAA currently includes Catalent and is awaiting the FDA inspection classification while discussions to add the second site are ongoing. Commercially the company says it is launch‑ready in the U.S. (covering ~140 SMA treatment centers and ~2,600 prescribing physicians), is planning an initial launch in Germany as part of a 50‑country operating platform, expects prior‑authorization workflows and notes typical early launch prescription‑to‑infusion times >60 days, and has a Scholar Rock Supports patient program in place. On clinical programs, SAPPHIRE met the Hammersmith endpoint (p=0.019), Phase II FORGE (n=60) has been initiated, Phase II OPAL is enrolling infants/toddlers <2 robustly, SRK‑439 Phase I dosing is ongoing with top‑line data expected later this year, and subcutaneous apitegromab showed favorable PK/PD in January. Financially the company ended Q2 with $492M in cash, cash equivalents and marketable securities (including $63M net ATM proceeds), reported Q2 operating expenses of $108.9M (including $19.7M stock‑based comp; $89.2M ex‑SBC), has a $150M draw option on its debt facility upon approval, and plans to monetize a priority review voucher to further strengthen the balance sheet.Scholar Rock Holding Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
46
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 33.19M | 18.82M |
| Gross Profit | -97.70M | -208.44M | -1.94M | -2.84M | -89.85M | -89.65M |
| EBITDA | -396.42M | -369.39M | -237.52M | -162.94M | -129.48M | -129.17M |
| Net Income | -408.59M | -377.94M | -246.29M | -165.79M | -134.50M | -131.80M |
Balance Sheet | ||||||
| Total Assets | 523.54M | 404.27M | 474.92M | 311.04M | 358.17M | 304.44M |
| Cash, Cash Equivalents and Short-Term Investments | 492.09M | 367.56M | 437.28M | 279.94M | 315.36M | 252.99M |
| Total Debt | 203.83M | 108.92M | 65.13M | 61.82M | 69.40M | 84.47M |
| Total Liabilities | 269.76M | 158.78M | 106.29M | 85.82M | 97.93M | 132.37M |
| Stockholders Equity | 253.78M | 245.49M | 368.63M | 225.22M | 260.24M | 172.07M |
Cash Flow | ||||||
| Free Cash Flow | -296.35M | -300.64M | -201.05M | -145.30M | -133.76M | -132.04M |
| Operating Cash Flow | -296.16M | -300.04M | -200.95M | -145.23M | -132.69M | -126.79M |
| Investing Cash Flow | 87.83M | 218.69M | -76.06M | 41.14M | -171.70M | 134.31M |
| Financing Cash Flow | 393.19M | 228.40M | 353.03M | 102.57M | 194.83M | 44.95M |
Scholar Rock Holding Technical Analysis
Negative
58.25
Price Trends
49.58
Negative
49.99
Negative
48.21
Negative
Market Momentum
-2.29
Negative
38.59
Neutral
74.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SRRK, the sentiment is Negative. The current price of 58.25 is above the 20-day moving average (MA) of 43.06, above the 50-day MA of 49.58, and above the 200-day MA of 48.21, indicating a bearish trend. The MACD of -2.29 indicates Negative momentum. The RSI at 38.59 is Neutral, neither overbought nor oversold. The STOCH value of 74.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SRRK.
Scholar Rock Holding Risk Analysis
Scholar Rock Holding disclosed 70 risk factors in its most recent earnings report. Scholar Rock Holding reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Scholar Rock Holding Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | $5.10B | -124.63 | 21.72% | ― | -42.84% | -106.21% | |
54 Neutral | $4.25B | -21.17 | -39.01% | ― | ― | -18.88% | |
52 Neutral | $5.08B | -12.60 | -160.19% | ― | ― | -14.40% | |
49 Neutral | $8.44B | -8.42 | 163.98% | ― | -21.07% | -41.03% | |
49 Neutral | $1.90B | -12.49 | -9.96% | ― | -20.44% | -349.84% | |
47 Neutral | $2.94B | -4.72 | -64.30% | ― | ― | 13.71% |
* General Sector Average
SRRK
Scholar Rock Holding
41.71
11.21
36.75%
CYTK
Cytokinetics
60.73
0.55
0.91%
SRPT
Sarepta Therapeutics
17.98
-5.52
-23.49%
PTCT
PTC Therapeutics
61.07
-6.01
-8.96%
DYN
Dyne Therapeutics
15.72
-8.45
-34.96%
EWTX
Edgewise Therapeutics
39.17
23.14
144.35%
Scholar Rock Holding Corporate Events
Product-Related AnnouncementsRegulatory Filings and Compliance
Scholar Rock Highlights FDA Approval and Safety Commitments
Positive
Sep 15, 2026
On September 14, 2026, Scholar Rock Holding announced via an investor webcast that the U.S. FDA had approved ISEMBYLD for treating spinal muscular atrophy in adults and children aged two and older who are on SMN2-targeted therapy. During the call,...
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
Scholar Rock Wins FDA Approval for SMA Therapy
Positive
Sep 14, 2026
On September 11, 2026, Scholar Rock announced U.S. FDA approval of ISEMBYLD (apitegromab-mstn), the first and only muscle-targeted treatment for spinal muscular atrophy in adults and children aged two and older who are already receiving an SMN2-ta...
Private Placements and FinancingRegulatory Filings and Compliance
Scholar Rock Expands $200 Million At-The-Market Program
Positive
Aug 6, 2026
On August 6, 2026, Scholar Rock filed a new prospectus supplement with the SEC for its existing at-the-market equity offering program with Jefferies, enabling the company to sell additional common shares with an aggregate offering price of up to $...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.