Sarepta (SRPT) SRP-4053 Data Provides 'Strong Validation' - SunTrust
SunTrust Robinson Humphrey analyst Edward Nash reiterated a Buy rating and $56 price target on Sarepta Therapeutics (NASDAQ: SRPT) after the company announced positive muscle biopsy results from the Phase I/II 4053-101 study that evaluated golodirsen (SRP-4053) for the treatment of DMD patients amenable to exon 53 skipping.
Nash said the data "provide strong validation for SRPT's PMO-based technology platform." The analyst also views the 1% level after 48 weeks of treatment with golodirsen as promising and as supporting management's previous claim that golodirsen induces exon skipping with higher efficiency as compared to Exondys 51.
While the press release did not include safety data , the analyst said given Exondys 51's strong safety profile, they believe golodirsen has been well tolerated.
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Shares of Sarepta Therapeutics closed at $41.08 yesterday.