Baird Affirms Sarepta Therapeutics (SRPT) at 'Outperform'; Incrementally Positive on PTAB Decision (BMRN)
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Baird is incrementally positive on the PTAB ruling for Sarepta Therapeutics, Inc. (NASDAQ: SRPT), which was announced late Tuesday.
Analyst Brian Skorney commented today,
Though the dominant story last year was the battle for approval between eteplirsen and BioMarin's (Nasdaq: BMRN) drisapersen, after BioMarin's rejection and discontinuation of the antisense programs for DMD, the story shifted to patent litigation, interferences, and potential for royalties. Earlier today, PTAB issued a decision on the final patent interference, handing Sarepta its second win in two days. Though the decisions can be appealed, it looks like Sarepta may avoid paying royalties to BMRN in the U.S.
Baird has Sarepta at Outperform with a price target of $102.
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