TD Cowen analyst Marc Frahm has maintained their bullish stance on SRRK stock, giving a Buy rating today.
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Marc Frahm has given his Buy rating due to a combination of factors, including the promising progress of Scholar Rock’s lead product, apitegromab, which is currently under review by the FDA and EMA for use in SMA patients. The company is targeting a broad label that would allow the drug to be used in combination with existing SMN therapies for all SMA patients aged 2 and older, which could significantly expand its market potential.
Despite the identification of manufacturing issues at two contract development and manufacturing organizations (CDMOs), Scholar Rock’s management remains optimistic about resolving these issues in time for the scheduled approval date. The company’s proactive approach in addressing the FDA’s findings and the potential for a broad label approval contribute to the positive outlook, supporting the Buy rating. Frahm believes that if the FDA finds the responses to the manufacturing issues satisfactory, the approval process could proceed without significant delays, further justifying the Buy recommendation.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $50.00 price target.