Sarepta Therapeutic (SRPT) PT Lifted to $55 at Needham & Company

Needham & Company analyst Chad Messer reiterated a Buy rating and raised his price target on Sarepta Therapeutic (NASDAQ: SRPT) to $55.00 (from $38.00) following data today.

Messer commented, "In a call with investors, Sarepta highlighted new data generated at the request of the FDA to support the recent NDA filing for eteplirsen. The data will be presented in greater detail today at the World Muscle Society Meeting in Brighton, England. These data include a rigorous analysis of 6MWT on an historical control group to the pivotal Phase IIb study, new biopsy data, and an updated safety analysis including patients in ongoing confirmatory studies. The results corroborate and extend previously existing data helping to address the main criticism of its small size. With the eteplirsen NDA now on file with the FDA (PDUFA date February 26th) and all relevant data in the public domain, we are more confident than ever in eteplirsen approval. We reiterate our Buy rating and raise our price target to $55."

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 $32.11 yesterday.

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