Scholar Rock price target raised to $57 from $54 at Jefferies

Jefferies raised the firm’s price target on Scholar Rock (SRRK) to $57 from $54 and keeps a Buy rating on the shares. Scholar Rock resubmitted its apitegromab biologics license application with included both Novo (NVO)/Catalent and second fill/finish sites, the analyst tells investors in a research note. The firm said management noted that the decision to resubmit before reinspection was FDA-aligned and driven by progress across both sites; that second filler will have commercial supply as early as July, and; the company has the flexibility to drop either filler to streamline review and can hit its September date regardless of reinspection outcome.