Analyst Initiation Sparks 6% Surge in Scholar Rock Stock

Scholar Rock's shares climbed 6% Thursday after BofA Securities initiated coverage with a buy rating and a $53 price target. The bullish call represents nearly 30% upside potential from current levels, defying a 0.3% decline in the S&P 500 benchmark.

Tazeen Ahmad's endorsement highlights apitegromab, the biotech's promising spinal muscular atrophy treatment. The drug candidate demonstrates superior efficacy to existing therapies in clinical trials, though the FDA recently issued a complete response letter regarding its approval application.

The company specializes in developing therapies for rare diseases with limited treatment options. Its targeted approach and advanced pipeline position Scholar Rock as a compelling growth story in the biopharma sector, despite regulatory hurdles.