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Needham & Company Remains Confident in Sarepta Therapeutic (SRPT) Approval

November 25, 2015 12:09 PM EST
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Price: $129.46 -0.59%

Rating Summary:
    30 Buy, 9 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Needham & Company analyst Chad Messer reiterated a Buy rating and $55 price target on Sarepta Therapeutic (NASDAQ: SRPT) saying they remain confident in Eteplirsen approval following Drisapersen's AdCom.

Messer commented, "As expected, most of the discussion yesterday was around inconsistencies in the drisapersen dataset as well as safety concerns. However, we do not necessarily believe the Advisory Committee (AdComm) would have voted against approval. We point out that the FDA did not include a customary yes/no approval voting question on the agenda. Regardless of the fate of drisapersen, we do not believe eteplirsen suffers from the same issues, as we wrote last week (11/20). We additionally point out that Sarepta endured multiple delays in the eteplirsen NDA filing as it sought to cooperate with FDA requests. We do not believe the same level of cooperation exists between FDA and Biomarin."

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 $37.32 yesterday.



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