BMO Capital raised the firm’s price target on Scholar Rock to $38 from $34 and keeps an Outperform rating on the shares. The firm cite the company’s positive data for the Phase 3 SAPPHIRE trial for apitegromab in spinal muscular atrophy as it increased its probability of approval for the drug to 95% from 85% while also updating its model to reflect the recent equity raise, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% 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:
- Biotech Alert: Searches spiking for these stocks today
- Scholar Rock Holding (SRRK) Stock Rockets Up on Positive Phase 3 Trial Results
- Scholar Rock 10.265M share Secondary priced at $28.25
- PepsiCo reports mixed Q3, Roblox slips after short report: Morning Buzz
- Scholar Rock announces $275M common stock offering