Recent News
On March 31, 2026 the company announced resubmission of the Biologics License Application (BLA) for apitegromab and stated FDA acceptance was expected within 30 days, with a PDUFA action date projected in late September 2026 (company disclosure). On May 7, 2026 Scholar Rock published first-quarter 2026 financial results and business highlights, noting commercial supply readiness efforts and an expectation that a second U.S.-based fill-finish facility would deliver additional product ahead of the PDUFA timeline. The May release reconfirmed a September 30, 2026 PDUFA action date in its forward-looking statements.
Technical Analysis
ADX at 15.67 indicates no established trend; directional signals lack strength despite conflicting short-term directional cues, so price action should remain susceptible to catalyst-driven moves rather than sustained technical trends.
DI+ shows a dip-and-reversal while DI- shows a peak-and-reversal, each signaling bullish directional readings; absent ADX confirmation, these directional readings imply potential upside into a catalyst but limited conviction for a sustained breakout.
MACD sits negative at -0.80 with a decreasing MACD_trend and a signal line at -0.35; negative and declining MACD indicates bearish momentum and no bullish MACD/signal cross has occurred to support a short-term trend reversal.
MRO at 12.15 and decreasing indicates the current price sits above the WMDST target and places downward pressure on price toward the valuation level; the positive MRO implies mean-reversion risk into the valuation anchor.
RSI at 48.07 and decreasing registers near-neutral with a modest downward bias, consistent with consolidation rather than a clear overbought or oversold condition.
Price trades below short- and medium-term averages (price vs 20‑day ~ $46.71, 50‑day ~ $47.88, 26‑day EMA ~ $46.70) while holding above the 200‑day average ($41.81); short-term averages pulling above price reinforce near-term downside friction, while the 200‑day level offers structural support relative to longer-term trend.
Ichimoku components place price beneath the cloud (Senkou A $47.01 / Senkou B $45.19), reinforcing a short-term bearish posture until price reclaims cloud levels; price sits roughly $1.00 above the 1× lower Bollinger band ($43.69), signaling proximity to the short-term lower boundary of the recent range.
Volume at ~959,949 sits below 10/50/200‑day averages, indicating low participation; muted volume reduces the odds of conviction-led moves absent a fundamental catalyst such as regulatory news or supply updates.
Fundamental Analysis
Profitability metrics remain negative: EBIT at -$103,208,000, EBITDA at -$102,873,000, and net income at -$105,510,000, with EPS actual of -$0.83 versus an estimate of -$0.78 (EPS surprise -6.41%). These operating losses keep valuation multiples distorted and produce a negative enterprise multiple.
Cash position strong: $430,543,000 in cash and $479,944,000 in cash and short‑term investments, paired with total current assets of $515,284,000 and total current liabilities of $59,643,000, produces a current ratio of 8.64 and a cash ratio of 8.05, indicating ample liquidity to fund near-term operations and regulatory activities.
Free cash flow remains negative at -$82,169,000 with a free cash flow yield of -1.50% and operating cash flow at -$106,260,000, signaling continuing cash consumption tied to development activities despite the cash balance.
Balance sheet leverage sits at total debt $205,674,000 versus total equity $276,013,000 (debt-to-equity 0.75 and debt-to-assets 0.38); debt levels remain manageable relative to liquidity but increased debt ratios QoQ and YoY suggest financing and capital-structure dynamics to monitor.
Valuation multiples present material dispersion. Price-to-book stands at 19.89, which sits above the industry peer mean (≈7.48) and median (≈5.47) and approaches the top of the industry peer range (high ≈20.84), while PEG and forward PE remain negative or high due to loss-making status. WMDST values the stock as under-valued; the valuation call reflects the cash-adjusted enterprise picture and risk-reduction from regulatory alignment but remains contingent on successful regulatory outcome and subsequent commercial execution.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-05-07 |
| NEXT REPORT DATE: | 2026-08-06 |
| CASH FLOW | Begin Period Cash Flow | $ 327.3 M |
| Operating Cash Flow | $ -106.26 M | |
| Capital Expenditures | $ -68.00 K | |
| Change In Working Capital | $ 84.0 K | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 107.0 M | |
| End Period Cash Flow | $ 434.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | — | |
| Forward Revenue | — | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 335.0 K | |
| Depreciation and Amortization | $ 335.0 K | |
| Research and Development | $ 51.8 M | |
| Total Operating Expenses | $ 102.0 M | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | $ -102.87 M | |
| EBIT | $ -103.21 M | |
| Operating Income | $ -102.02 M | |
| Interest Income | $ 2.9 M | |
| Interest Expense | $ 2.3 M | |
| Net Interest Income | $ 633.0 K | |
| Income Before Tax | $ -105.51 M | |
| Tax Provision | — | |
| Tax Rate | — | |
| Net Income | $ -105.51 M | |
| Net Income From Continuing Operations | $ -105.51 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.78 | |
| EPS Actual | $ -0.83 | |
| EPS Difference | $ -0.05 | |
| EPS Surprise | -6.41 % | |
| Forward EPS | $ -0.59 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 535.3 M | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 276.0 M | |
| Total Current Assets | $ 515.3 M | |
| Cash and Short-Term Investments | $ 479.9 M | |
| Cash | $ 430.5 M | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | $ 3.8 M | |
| LIABILITIES | ||
| Accounts Payable | $ 9.2 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 59.6 M | |
| Net Debt | — | |
| Total Debt | $ 205.7 M | |
| Total Liabilities | $ 259.2 M | |
| EQUITY | ||
| Total Equity | $ 276.0 M | |
| Retained Earnings | $ -1.41 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 2.32 | |
| Shares Outstanding | 119.104 M | |
| Revenue Per-Share | — | |
| VALUATION | Market Capitalization | $ 5.5 B |
| Enterprise Value | $ 5.2 B | |
| Enterprise Multiple | -50.71 | |
| Enterprise Multiple QoQ | -1.084 % | |
| Enterprise Multiple YoY | 38.292 % | |
| Enterprise Multiple IPRWA | high: 75.51 median: 27.492 mean: 9.622 SRRK: -50.71 low: -126.596 |
|
| EV/R | — | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.939 | |
| Asset To Liability | 2.065 | |
| Debt To Capital | 0.427 | |
| Debt To Assets | 0.384 | |
| Debt To Assets QoQ | 42.626 % | |
| Debt To Assets YoY | 148.015 % | |
| Debt To Assets IPRWA | high: 1.112 SRRK: 0.384 mean: 0.167 median: 0.031 low: 0.0 |
|
| Debt To Equity | 0.745 | |
| Debt To Equity QoQ | 67.954 % | |
| Debt To Equity YoY | 268.581 % | |
| Debt To Equity IPRWA | high: 1.864 SRRK: 0.745 mean: 0.191 median: 0.051 low: -1.199 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 19.894 | |
| Price To Book QoQ | 2.377 % | |
| Price To Book YoY | 99.558 % | |
| Price To Book IPRWA | high: 20.844 SRRK: 19.894 mean: 7.482 median: 5.469 low: -11.267 |
|
| Price To Earnings (P/E) | -55.545 | |
| Price To Earnings QoQ | 11.136 % | |
| Price To Earnings YoY | 13.396 % | |
| Price To Earnings IPRWA | high: 74.242 mean: -1.84 median: -14.301 SRRK: -55.545 low: -121.28 |
|
| PE/G Ratio | 9.776 | |
| Price To Sales (P/S) | — | |
| Price To Sales QoQ | — | |
| Price To Sales YoY | — | |
| Price To Sales IPRWA | — | |
| FORWARD MULTIPLES | ||
| Forward P/E | -72.663 | |
| Forward PE/G | 12.788 | |
| Forward P/S | — | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | — | |
| Asset Turnover Ratio QoQ | — | |
| Asset Turnover Ratio YoY | — | |
| Asset Turnover Ratio IPRWA | — | |
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 499.798 mean: 219.741 median: 208.031 SRRK: 0 low: -303.652 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | — | |
| CapEx To Depreciation | -0.203 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 472.6 M | |
| Net Invested Capital | $ 472.6 M | |
| Invested Capital | $ 472.6 M | |
| Net Tangible Assets | $ 276.0 M | |
| Net Working Capital | $ 455.6 M | |
| LIQUIDITY | ||
| Cash Ratio | 8.047 | |
| Current Ratio | 8.639 | |
| Current Ratio QoQ | 24.314 % | |
| Current Ratio YoY | -15.737 % | |
| Current Ratio IPRWA | high: 32.587 SRRK: 8.639 mean: 3.935 median: 2.409 low: 0.016 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -1.999 | |
| Cost Of Debt | 1.463 % | |
| Interest Coverage Ratio | -44.834 | |
| Interest Coverage Ratio QoQ | 28.472 % | |
| Interest Coverage Ratio YoY | -34.281 % | |
| Interest Coverage Ratio IPRWA | high: 604.866 median: -14.753 SRRK: -44.834 mean: -77.316 low: -1643.72 |
|
| Operating Cash Flow Ratio | -1.782 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 32.399 % | |
| Revenue Growth | — | |
| Revenue Growth QoQ | — | |
| Revenue Growth YoY | — | |
| Revenue Growth IPRWA | — | |
| Earnings Growth | -5.682 % | |
| Earnings Growth QoQ | 155.716 % | |
| Earnings Growth YoY | -157.767 % | |
| Earnings Growth IPRWA | high: 200.0 % median: -5.479 % SRRK: -5.682 % mean: -13.779 % low: -250.0 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -82.17 M | |
| Free Cash Flow Yield | -1.496 % | |
| Free Cash Flow Yield QoQ | -5.496 % | |
| Free Cash Flow Yield YoY | -41.009 % | |
| Free Cash Flow Yield IPRWA | high: 11.709 % median: 0.11 % mean: -0.511 % SRRK: -1.496 % low: -45.34 % |
|
| Free Cash Growth | 8.793 % | |
| Free Cash Growth QoQ | -6.952 % | |
| Free Cash Growth YoY | -85.19 % | |
| Free Cash Growth IPRWA | high: 253.163 % SRRK: 8.793 % mean: 4.256 % median: -16.897 % low: -249.577 % |
|
| Free Cash To Net Income | 0.779 | |
| Cash Flow Margin | — | |
| Cash Flow To Earnings | 1.007 | |
| VALUE & RETURNS | ||
| Economic Value Added | — | |
| Return On Assets (ROA) | -22.46 % | |
| Return On Assets QoQ | 0.736 % | |
| Return On Assets YoY | 32.625 % | |
| Return On Assets IPRWA | high: 38.074 % median: -7.986 % mean: -13.724 % SRRK: -22.46 % low: -67.817 % |
|
| Return On Capital Employed (ROCE) | -21.7 % | |
| Return On Equity (ROE) | -0.382 | |
| Return On Equity QoQ | 3.16 % | |
| Return On Equity YoY | 59.781 % | |
| Return On Equity IPRWA | high: 0.797 median: -0.11 mean: -0.344 SRRK: -0.382 low: -1.265 |
|
| DuPont ROE | — | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |