Sarepta Therapeutic (SRPT) PT Raised to $102 at Baird
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(Updated - September 19, 2016 12:23 PM EDT)
Baird reiterated an Outperform rating and raised its price target on Sarepta Therapeutic (NASDAQ: SRPT) to $102.00 (from $23.00) following FDA approval of eteplirsen.
Analyst Brian Skorney commented, "After months of delays, requests for additional data, and a slew of other DMD rejections, the FDA handed Sarepta a victory this morning. Eteplirsen, branded as EXONDYS 51, has been approved under the accelerated pathway, with a broad label. As a result of the approval and receipt of a potentially lucrative priority review voucher, we are increasing our price target to $102, which now takes into account increased probabilities of commercial expansion into other exons."
Shares of Sarepta Therapeutic closed at $28.15 yesterday.
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