Roth Capital Sees Opportunity of Year-End Approval for Sarepta's (SRPT) Eteplirsen; PT Lifted to $50

Roth Capital analyst Debjit Chattopadhyay bumped his price target on Buy-rated Sarepta Therapeutic (NASDAQ: SRPT) to $50.00 (from $45.00) after the Eteplirsen NDA was accepted for review. While a February 26th PDUFA date was set, the analyst sees the possibility for an even earlier approval around the end of the year.

Chattopadhyay commented, "The PDUFA date has been set for February 26th under priority review however, we would not be surprised if accelerated approval is granted around December 27th (BioMarin's PDUFA). Additionally, the robust secondary market for the rare pediatric disease voucher offers Sarepta significant flexibility and limits any near-term dilution, in our view. A sell-the-news event would not surprise us, but we expect pullbacks to be shallow and recommend buying the dips ahead of the fourth biopsy data in early October."

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 $32.58 yesterday.

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