Sarepta (SRPT) PT Raised at Jefferies as BioMarin AdCom Viewed as a Positive But Remains Cautious
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Rating Summary:
30 Buy, 9 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 9 | Down: 6 | New: 8
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Jefferies analyst Gena Wang views the negative AdCom outcome for BMRN's drisapersen as a positive for Sarepta Therapeutic (NASDAQ: SRPT), although questions remain. As such the firm raised its price target to $38.00 (from $28.00) but maintained a Hold rating.
Wang commented, "We view negative AdCom outcome for BMRN's drisapersen in Duchenne muscular dystrophy as positive for SRPT given 1) strong biomarker data, 2) consistent clinical data and 3) solid safety profile for its eteplirsen. While some open questions remain (see below), we see increased prob of approval (70%) and potential first to market for eteplirsen with higher penetration. We increase our PT to $38 from $28."
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 $37.32 yesterday.
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