Baird analyst Brian Skorney reiterated an Outperform rating and boosted his price target on Sarepta Therapeutic (NASDAQ: SRPT) to $47.00 (from $34.00), saying they are increasingly bullish on risk/reward.

Sarepta commented, "After spending time with management recently and hearing additional granularity on the ongoing exon skipping studies on the earnings call, we are increasingly bullish that over the next few months we'll see a number of additional data points going into an AdCom in November that will increase the probability of success in investors' models. We are increasing our price target to $47"

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Shares of Sarepta Therapeutic closed at $34.63 yesterday.