William Blair Reiterates Outperform Rating on Sarepta Therapeutics (SRPT)

William Blair analyst Tim Lugo reiterated an Outperform rating on Sarepta Therapeutics (NASDAQ: SRPT), following announcement the company's trial of SRP-5051 got put on hold by the FDA.

The analyst comments: "We continue to believe SRP-9001 has a path to market and represents both a meaningful therapy for patients and significant opportunity for Sarepta. We also note competing programs have faced safety concerns that have led to the halting of trials, and we believe the potential for SAEs seems like a nonstarter and may limit these competing therapies to only holding a niche if either is approved. While there has been some uncertainty about the regulatory path for SRP-9001 moving forward, we believe the company has now laid out a clear path to regulatory submission, and we continue to believe the company has a deep pipeline of gene therapy products, including SRP-9003 and next-generation PPMO exon-skipping products that offer significant upside to its existing commercial portfolio of PMO exon-skipping products, which we estimate will generate over $800 million in revenues in 2022. We see several near-term catalysts, including enrollment updates from the Phase III EMBARK study, updates from meetings with regulators to discuss data from Study 102 part 2, and advancement of other pipeline products including the LGMD portfolio of products, and hence we maintain our Outperform rating."

For an analyst ratings summary and ratings history on Sarepta Therapeutics click here. For more ratings news on Sarepta Therapeutics click here.

Shares of Sarepta Therapeutics closed at $71.82 yesterday.

By Vlad Schepkov

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