Scholar Rock price target raised to $38 from $34 at BMO Capital

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.