JPMorgan adds Scholar Rock to Focus List, ‘Positive Catalyst Watch’

JPMorgan added Scholar Rock (SRRK) to the firm’s Analyst Focus List as a growth idea and also placed the stock on “Positive Catalyst Watch.” JPMorgan remains focused on the potential for apitegromab in spinal muscular atrophy and the company’s execution on regulatory approvals and launches for the drug across key geographies, starting with the U.S. If approved, which is “highly likely” given the positive results from the Phase 3 SAPPHIRE trial in patients with non-ambulatory Type 2/3 spinal muscular atrophy, JPMorgan sees potential for “robust launches,” the analyst tells investors in a research note. The firm keeps an Overweight rating on Scholar Rock with a $46 price target