Sarepta Therapeutics (SRPT) Ticks Lower as Jefferies Sees No Change to Approvability

September 14, 2016 5:58 PM EDT
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Price: $32.66 -4.59%

Rating Summary:
    17 Buy, 10 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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After surging 27% intra-day on news chief critic Dr. Farkas has left the FDA, Sarepta Therapeutics (NASDAQ: SRPT) is ticking modestly lower (1.4%) after-hours after Jefferies analysts said they see not impact on approvability of eteplirsen, citing a KOL.

"We hosted a call with an FDA regulatory expert on the departure of FDA former agent Dr. Farkas (clinical team leader for eteplirsen review) and its potential impact on the approval process for eteplirsen," analyst Gena Wang said. "Our KOL sees no changes on the probability of approval and believes longer delay suggests a tougher path to approval. We continue to see low probability of approval for eteplirsen and reiterate Underperform rating."

The analyst reiterated an Underperform rating and price target of $7.00

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