Needham & Company reiterate their Buy rating on Sarepta Therapeutics, Inc. (NASDAQ: SRPT) with the price target set $38 while awaiting the NDA filing and approval of Eteplirsen.

Needham & Company analyst, Chad Messer, commented on SRPT, saying, "A pre-NDA meeting with the FDA is scheduled for this quarter and Sarepta remains on track to file an NDA for eteplirsen in Duchenne's muscular dystrophy (DMD) by mid-2015. Two of 3 confirmatory studies, Study 204 and Study 301, are on schedule to complete enrollment by early June and YE:15, respectively. We look for the 3rd confirmatory study, Study 203, to begin screening later this month and Study 804 in exon 45 and 53 skipping mutations to start in mid-'15 in the US. We maintain our view that Eteplirsen will ultimately be approved and reiterate our Buy rating. "

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 $14.76 yesterday.