Scholar Rock resubmission ‘material de-risking event,’ says H.C. Wainwright

H.C. Wainwright analyst Andres Maldonado keeps a Buy rating on Scholar Rock (SRRK) with a $58 price target after the company announced the resubmission of its biologics license application for lead asset apitegromab. The “chapter colored by regulatory setbacks is coming to a close for Scholar Rock as they move forward with strengthened FDA alignment, increased manufacturing redundancy, and clear commercial readiness,” the analyst tells investors in a research note. H.C. Wainwright views the resubmission as a “material de-risking event” for approval as well as early commercial execution. Scholar Rock shares are up 12% to $48.24 in midday trading.