New Sarepta Therapeutic (SRPT) Data Supports Approval, Oppenheimer Says

Oppenheimer analyst Christopher Marai reiterated an Outperform rating and $45 price target on Sarepta Therapeutic (NASDAQ: SRPT) following yesterday's WMS update.

Mara commented, "Importantly, an independent re-read of the previous Phase-2b (study-201) %-dystrophin positive fiber data is consistent, showing statistically significant increases in dystrophin at week 24, meeting our expectations. Additionally, eteplirsen demonstrated a 151m stat-sig p<0.001) benefit in 6MWT for all 12 patients (ITT) vs. an external matched control (exon-51, pg.4). Fourth biopsy showed 10/11 boys had dystrophin-positive fibers, and eteplirsen-treated patients had a sta-sig increase in %-dystrophin positive fibers vs. control. Finally, physicians at WMS conference were impressed with lack of AEs."

The updated data is supportive of accelerated approval, in the firm's view. They anticipate an FDA AdCom Nov 23-24.

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 $39.28 yesterday.

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