Jefferies Downgrades Sarepta Therapeutic (SRPT) to Underperform; Low Probability of Approval
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Rating Summary:
30 Buy, 9 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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Jefferies downgraded Sarepta Therapeutic (NASDAQ: SRPT) from Hold to Underperform and maintained their price target of $7.00, saying they see low probability of approval by PDUFA.
Analyst Gena Wang commented, "While the sympathy expressed by CDER director Dr. Woodcock to DMD pts fueled some speculation on potential approval of eteplirsen, the FDA officials emphasized that the agency is a science-based org and current weak evidence based on FDA analysis could not support drug effect in our view. We continue to see low prob of approval on PDUFA date (May 26) with likely new controlled Ph3 required for full approval. We maintain $7 PT but downgrade SRPT to Underperform."
For an analyst ratings summary and ratings history on Sarepta Therapeutic click here. For more ratings news on Sarepta Therapeutic click here.
Shares of Sarepta Therapeutic closed at $13.80 yesterday.
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