Truist analyst Srikripa Devarakonda raised the firm’s price target on Scholar Rock (SRRK) to $45 from $36 and keeps a Buy rating on the shares. Competitor Biohaven’s (BHVN) Phase 3 trial in spinal muscular atrophy failed to meet the primary endpoint, and Truist sees a stronger case for Scholar Rock in SMA, which reported statistically significant improvements with Apitegromab, the analyst tells investors in a research note. The firm says the SMA market opportunity could be larger than anticipated given removal of this competitive overhang, and views Scholar Rock as a potential takeout target given the positive SMA data and Apitegromab in Phase 2 trial in obesity.
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