UPDATE: Cowen Upgrades Sarepta Therapeutic (SRPT) to Outperform
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(Updated - September 20, 2016 8:48 AM EDT)
Cowen upgraded Sarepta Therapeutic (NASDAQ: SRPT) from Market Perform to Outperform with a price target of $64 after the FDA approved Exondys 51.
Analyst Ritu Baral said, "Following today's approval of Exondys 51, SRPT announced average weight-based net, compliance adjusted price of ~$300k/yr but our estimated gross is much higher. SRPT looks ready to launch ASAP, with inventory/commercial operations/patient hub in place. We are upgrading with a new target of $64 based on a sound commercial plan to drive rapid, sticky sales, with upside from EU and the pipeline."
Shares of Sarepta Therapeutic closed at $48.94 yesterday.
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