RBC Capital Upgrades Sarepta (SRPT) to Outperform; Becomes Attractive M&A Target
RBC Capital upgraded Sarepta Therapeutic (NASDAQ: SRPT) from Sector Perform to Outperform with a price target of $83.00 (from $5.00).
Analyst Simos Simeonidis commented, "In one of the most perplexing regulatory decisions in recent history, FDA has granted accelerated approval to Sarepta's eteplirsen. This decision, which may have a number of negative consequences for the review of rare disease drugs, is a major game-changer for SRPT, which we believe now becomes one of the most attractive M&A targets in biopharma, given both eteplirsen and its pipeline of exon-skipping compounds."
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Shares of Sarepta Therapeutic closed at $28.15 yesterday.