Scholar Rock Holding (SRRK) has received a new Buy rating, initiated by BMO Capital analyst, Etzer Darout.
Etzer Darout’s rating is based on several promising developments at Scholar Rock Holding. The company is on track for the approval and commercialization of its lead drug, apitegromab, which targets spinal muscular atrophy (SMA). The recent submission of the Biologics License Application (BLA) to the FDA and the anticipated Marketing Authorization Application (MAA) submission to the European Medicines Agency are significant milestones that bolster confidence in the drug’s market potential.
Furthermore, the successful Phase 3 SAPPHIRE trial demonstrated notable improvements in motor function for SMA patients, which supports the drug’s efficacy. Scholar Rock is also exploring the potential of apitegromab in other neuromuscular conditions and obesity, with ongoing trials and upcoming data releases. These factors, combined with the company’s innovative research platform targeting TGF-β proteins, contribute to the positive outlook and justify the Buy rating.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $50.00 price target.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SRRK in relation to earlier this year.