Needham & Company analyst Chad Messer reiterated a Buy rating and $52 price target on Sarepta Therapeutic (NASDAQ: SRPT) following Q3 results and an Eteplirsen regulatory update.

Messer comments, "Sarepta remains on track to file an NDA for eteplirsen in Duchenne's muscular dystrophy (DMD) by mid-2015. As a reminder, this date was pushed out from YE:14 last month following additional guidance from the FDA for additional requirements for NDA submission. The company expects to initiate open label confirmatory studies in ambulant and in non-ambulant DMD boys later this month, an important milestone since 3 month data from newly dosed patients is now a gating factor for the NDA. We maintain our view that eteplirsen will ultimately be approved."

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Shares of Sarepta Therapeutic closed at $15.17 yesterday.