Roth Capital analyst Debjit Chattopadhyay reiterated a Buy rating and $50 price target on Sarepta Therapeutic (NASDAQ: SRPT), saying their conditional-approval thesis remains unchanged.

Chattopadhyay commented, "A new therapy is not considered available therapy if granted accelerated approval based on a surrogate or intermediate clinical end points, and clinical benefit has not been verified by post-approval studies: which is a point that has seemingly deserted the investment community since Sarepta's ad-comm was pushed out to 1/22/16. In a pediatric indication that potentially calls for life-long dosing, safety, tolerability and efficacy are all in favor of eteplirsen; we expect it to be the commercial winner, if approved."

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Shares of Sarepta Therapeutic closed at $24.28 yesterday.