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Analyst Builds Bullish Case For This Neuromuscular Company, Sees 200% Upside

·1 min read
  • HC Wainwright has assumed coverage on Scholar Rock Holding Corp (NASDAQ: SRRK) with a Buy rating and price target of $30.

  • The analyst writes that with a positive readout from the Phase 2 TOPAZ study under their belt, Scholar Rock’s apitegromab (SRK-015) is shaping to be a transformative therapeutic for Type 2/3 Spinal Muscular Atrophy (SMA).

  • HC Wainwright says that recent 24-Month TOPAZ extension data further convinces that apitegromab can solidify a place in the SMA market (2025 est. approval) by being a muscle-directed therapy that can complement current SMN therapies.

  • Apitegromab showed a mean HFMSE change of +4.4 points, with 81% of patients achieving a ≥1 point increase and 56% achieving ≥3 points.

  • Scholar Rock is currently enrolling patients for its pivotal Phase 3 SAPPHIRE study, which KOLs indicate may deliver equal, if not better results, as the design is influenced by TOPAZ.

  • Price Action: SRRK shares are up 2.75% at $9.16 on the last check Monday.

Latest Ratings for SRRK

Date

Firm

Action

From

To

Dec 2021

Jefferies

Downgrades

Buy

Hold

Nov 2021

Piper Sandler

Initiates Coverage On

Overweight

Jan 2021

Credit Suisse

Initiates Coverage On

Outperform

View More Analyst Ratings for SRRK

View the Latest Analyst Ratings

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