Raising Conviction on Scholar Rock: Dual Supply Chain and Broad Apitegromab Adoption Underpin Buy Rating and Higher Target

Analyst Andres Y. Maldonado of H.C. Wainwright reiterated a Buy rating on Scholar Rock Holding, boosting the price target to $58.00.

Andres Y. Maldonado has given his Buy rating due to a combination of factors that point to a strong pre-approval outlook for apitegromab and a more robust launch scenario than previously modeled. Recent input from treating neurologists, combined with updated regulatory and commercial commentary from management, supports the view that regulatory interactions and manufacturing remediation have actually reduced uncertainty around approval and supply. Clinicians emphasized that Scholar Rock’s dual supply chain approach materially lowers execution risk in the initial launch phase, and that the company’s expanded field presence and disease education are meaningfully raising awareness of spinal muscular atrophy as a chronic muscle condition. This groundwork, in Maldonado’s view, sets the stage for active adoption at launch rather than slow, exploratory use, and the recent FDA complete response letter has not dampened key opinion leaders’ enthusiasm for the program.
At the same time, feedback from specialists indicates that apitegromab is likely to be used broadly as an add-on to existing SMN-directed therapies, because its distinct mechanism makes it easier for physicians to justify treatment in patients who remain functionally limited despite being clinically stable. This lowers the barrier to prescribing and supports a faster and wider integration of apitegromab into routine care, especially as concerns over uninterrupted supply are alleviated. As questions increasingly shift from whether the drug will be used to how to optimize its use across different patient segments and formulations, Maldonado sees the risk-reward profile improving. Reflecting this higher conviction in both approval prospects and commercial uptake, he reiterates a Buy rating on Scholar Rock while raising his valuation assumptions, as captured in his increased price target.

Y. Maldonado covers the Healthcare sector, focusing on stocks such as ImmunityBio, Protara Therapeutics, and Syndax Pharmaceuticals. According to TipRanks, Y. Maldonado has an average return of 26.2% and a 56.52% success rate on recommended stocks.

In another report released on January 13, Bank of America Securities also maintained a Buy rating on the stock with a $50.00 price target.