Analyst Andres Y. Maldonado from H.C. Wainwright reiterated a Buy rating on Scholar Rock Holding and decreased the price target to $44.00 from $50.00.
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Andres Y. Maldonado has given his Buy rating due to a combination of factors that highlight the potential of Scholar Rock Holding’s lead product, apitegromab. Despite a recent delay caused by compliance issues at a third-party manufacturing facility, the drug itself has not faced any concerns regarding its efficacy or safety. This indicates that the delay is a matter of logistics rather than a reflection of the drug’s potential, and the issue is expected to be resolved without impacting the drug’s approvability.
Furthermore, the Phase 3 SAPPHIRE trial results have shown promising improvements in motor function for spinal muscular atrophy patients, positioning apitegromab as a unique therapy that complements existing treatments. The company’s strong financial position, with substantial cash reserves and additional financial resources, provides a solid foundation to navigate the delay and move towards eventual market approval. This combination of clinical promise and financial stability underpins the Buy rating, with an adjusted price target reflecting the updated timeline.
According to TipRanks, Y. Maldonado is a 4-star analyst with an average return of 9.9% and a 53.38% success rate. Y. Maldonado covers the Healthcare sector, focusing on stocks such as ImmunityBio, I-MAB, and Candel Therapeutics.
In another report released on September 19, BMO Capital also reiterated a Buy rating on the stock with a $45.00 price target.