Barclays analyst Etzer Darout lowered the firm’s price target on Scholar Rock (SRRK) to $44 from $45 and keeps an Overweight rating on the shares after the FDA issued a complete response letter for apitegromab in spinal muscular atrophy due to Catalent, Indiana, manufacturing plant issues. The firm says that while the letter is “not ideal,” the impact to Scholar Rock should be “muted.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SRRK:
- Morning News Wrap-Up: Tuesday’s Biggest Stock Market Stories!
- Scholar Rock price target lowered to $44 from $50 at H.C. Wainwright
- Buy Rating for Scholar Rock Holding: Clinical Promise and Financial Stability Amid Manufacturing Delay
- Scholar Rock Stock (SRRK) Puts on the Pounds Despite Muscle Drug Blow
- Morning Movers: Boeing up as lawmakers talk up deal for China to buy more jets