Truist raised the firm’s price target on Scholar Rock (SRRK) to $45 from $36 and keeps a Buy rating on the shares after Biohaven’s (BHVN) Phase 3 study spinal muscular atrophy failed to meet the primary endpoint. Truist now sees a stronger case for Scholar Rock in SMA and are increased its peak sales to $1.5B from $1.2B. The SMA market opportunity could be larger than anticipated given the removal of this competitive overhang, the analyst tells investors in a research note. With positive SMA data and apitegromab in a Phase 2 trial for obesity, the firm now sees Scholar Rock as a potential takeout target.
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Read More on SRRK:
- Scholar Rock up after Biohaven SMA data disappoints
- Scholar Rock price target raised to $47 from $40 at Wedbush
- Scholar Rock Advances with Promising SMA Trial Results
- Scholar Rock price target raised to $40 from $35 at H.C. Wainwright
- Scholar Rock reports Q3 EPS (66c), consensus (60c)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
