Scholar Rock (SRRK) PT Raised to $38 at BMO Capital

BMO Capital analyst Etzer Darout raised the price target on Scholar Rock (NASDAQ: SRRK) to $38.00 (from $34.00) while maintaining an Outperform rating.

The analyst commented, "SRRK reported positive data for the Phase 3 SAPPHIRE trial for apitegromab in spinal muscular atrophy (SMA). We're increasing our probability of approval to 95% (from 85%) and updating our model to reflect the recent raise. The consistency of benefit for apitegromab in the exploratory cohort of patients (13-21) represented upside to our approval assumptions, and we see further upside from the OPAL trial in patients under two years, which SRRK plans to initiated mid-2025. We are reiterating OP with target price of $38 (from $34)."

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