Scholar Rock assumed with a Buy at Jefferies

Jefferies assumed coverage of Scholar Rock (SRRK) with a Buy rating and $50 price target The firm expects the company’s apitegromab to be approved in spinal nuscular atrophy with a broad label. However, the September 22 FDA action date could be delayed to Q1 due to procedural observations from a recent FDA site inspection, the analyst tells investors in a research note. Jefferies models peak sales of $1.8B for the drug.