Tazeen Ahmad, an analyst from Bank of America Securities, reiterated the Buy rating on Scholar Rock Holding. The associated price target remains the same with $49.00.
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Tazeen Ahmad has given his Buy rating due to a combination of factors including the constructive dialogue Scholar Rock Holdings had with the FDA regarding the re-submission of their BLA for apitegromab, a treatment for spinal muscular atrophy. The company anticipates a re-submission, approval, and U.S. launch by 2026, with the progress made by their fill-finish partner, Catalent Indiana, being on track for a re-inspection by the end of 2025.
Furthermore, Scholar Rock Holdings is proactively preparing for the commercial launch by securing a second fill-finish partner and engaging with a broad network of potential prescribers and payors. These strategic moves are aimed at ensuring a strong market entry for apitegromab, which is designed as an add-on therapy in a multi-billion dollar market, without directly competing with existing therapies. This comprehensive approach to market readiness and regulatory compliance underpins the Buy rating with a price objective of $49.
In another report released yesterday, BMO Capital also maintained a Buy rating on the stock with a $50.00 price target.
SRRK’s price has also changed moderately for the past six months – from $30.540 to $37.410, which is a 22.50% increase.