Analyst Andres Y. Maldonado of H.C. Wainwright maintained a Buy rating on Scholar Rock Holding (SRRK – Research Report), with a price target of $50.00.
Andres Y. Maldonado has given his Buy rating due to a combination of factors related to Scholar Rock Holding’s promising developments with apitegromab. The company is making significant strides towards the potential approval and commercialization of apitegromab in the U.S. and EU markets, with a recent BLA submission to the FDA and plans to file a European marketing authorization application. The strong Phase 3 SAPPHIRE trial results, which showed notable improvements in HFMSE scores for nonambulatory patients with spinal muscular atrophy (SMA), support the drug’s potential as a first-in-class therapy.
Additionally, Scholar Rock is expanding apitegromab’s application to other neuromuscular diseases and is preparing for the Phase 2 OPAL study. The EMBRAZE Phase 2 trial, exploring apitegromab’s effects in combination with tirzepatide for muscle preservation in obesity, has shown promising early results. These developments, alongside the company’s strategic focus on addressing muscle loss in weight management, underpin Maldonado’s optimistic outlook and Buy rating for Scholar Rock Holding’s stock.
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.