Sarepta Therapeutic (SRPT) Has Another Nearly 200% Upside - Analyst
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Price: $36.91 +3.94%
Rating Summary:
8 Buy, 2 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
8 Buy, 2 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade SRPT Now!
Shares of Sarepta Therapeutic (NASDAQ: SRPT) have more than doubled Tuesday following strong trial results, but according to analysts at Wedbush there is tons more upside.
The firm lifted its price target on the name from $15 to $26, while reiterating an Outperform rating.
The price target is arrived at by taking an 8x multiple of 2016 US/Ex-EU sales estimates of eteplirsen, up from 6x, which they feel better reflects the multiple assigned to rare disease companies. They estimate 2016 sales of eteplirsen of $250 million in the US and ex-EU markets and estimate peak sales of eteplirsen could reach in excess of $300 million in these markets alone.
Wedbush continues to view the company as "undervalued" and that investors are giving little credt to their rare disease candidate, eteplirsen and potential follow-on compounds that could generate $600 million+ in peak US sales alone.
The next catalyst for the name, is still expected Oct. 9-13 at the World Muscle Society meeting in Perth, Australia.
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 $3.46 yesterday, with a 52 week range of $3.30-$4.24.
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The firm lifted its price target on the name from $15 to $26, while reiterating an Outperform rating.
The price target is arrived at by taking an 8x multiple of 2016 US/Ex-EU sales estimates of eteplirsen, up from 6x, which they feel better reflects the multiple assigned to rare disease companies. They estimate 2016 sales of eteplirsen of $250 million in the US and ex-EU markets and estimate peak sales of eteplirsen could reach in excess of $300 million in these markets alone.
Wedbush continues to view the company as "undervalued" and that investors are giving little credt to their rare disease candidate, eteplirsen and potential follow-on compounds that could generate $600 million+ in peak US sales alone.
The next catalyst for the name, is still expected Oct. 9-13 at the World Muscle Society meeting in Perth, Australia.
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 $3.46 yesterday, with a 52 week range of $3.30-$4.24.
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