LifeSci Capital analyst Dennis Kennedy has maintained their bullish stance on SRRK stock, giving a Buy rating on June 5.
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Dennis Kennedy has given his Buy rating due to a combination of factors that highlight Scholar Rock’s promising advancements and strategic focus. The company reported impressive topline data from their EMBRAZE proof of concept study, showcasing the effectiveness of their anti-pro/latent mAb, apitegromab, in combination with a GLP-1R/GIPR dual agonist. This combination achieved a statistically significant preservation of lean mass, surpassing expectations and benchmarks set by competitors.
Despite the success in the obesity study, Scholar Rock is strategically pivoting to focus on rare neuromuscular disorders, where there is a significant unmet need. The company plans to advance their next-generation SRK-439, which offers the advantage of subcutaneous administration, potentially enhancing patient compliance and expanding therapeutic applications. This strategic shift, along with their robust pipeline and innovative approach, underpins Kennedy’s confidence in Scholar Rock’s potential for growth and success in addressing critical medical needs.
According to TipRanks, Kennedy is a 3-star analyst with an average return of 22.9% and a 100.00% success rate.
In another report released on June 5, BMO Capital also maintained a Buy rating on the stock with a $57.00 price target.