Scholar Rock price target raised to $31 from $29 at BMO Capital

BMO Capital analyst Etzer Darout raised the firm’s price target on Scholar Rock (SRRK) to $31 from $29 and keeps an Outperform rating on the shares. The stock’s current valuation implies a low probability of success for the Phase 3 SAPPHIRE trial as well as a negative readout for Biohaven’s (BHVN) Phase 3 RESILIENT trial, which could come ahead of SAPPHIRE, the analyst tells investors in a research note. BMO adds however that it is positive on the stock ahead of SAPPHIRE as the trial is designed to demonstrate a benefit in patients who’d respond best to apitegromab.