Scholar Rock price target raised to $40 from $35 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Scholar Rock (SRRK) to $40 from $35 and keeps a Buy rating on the shares. Scholar Rock is on track to submit a U.S. Biologics License Application, or BLA, and a European Union marketing authorization application, or MAA, for apitegromab in the first quarter of 2025, notes the analyst, who has revised the firm’s operating expense assumptions in preparation for a potential launch. The firm believes Scholar Rock is “well-positioned to exceed Street expectations” for apitegromab, with additional updates from both the obesity program and the oncology asset “further bolstering our optimistic outlook,” the analyst tells investors.