Needham & Company Positive on Sarepta (SRPT) Initial Exondys Launch Metrics

Needham & Company analyst Chad Messer reiterated a Buy rating and $81 price target on Sarepta Therapeutics (NASDAQ: SRPT) after the company recently reported $5.4M in 4Q16 Exondys revenue and >250 patient start forms since launch.

Messer commented, "While it is still early days, these metrics seem to have been sufficient to allay investor fears. Based on management commentary, we expect another quarter or two of slow progress but we continue to expect that the vast majority of the 1,400-1,700 eligible DMD boys in the US will be on therapy by next year. We believe Sarepta also presented a more optimistic outlook on Exondys regulatory progress in Europe, and the company also discussed recent pipeline additions with utrophin modulators and gene therapy. We believe there is currently little to no value assigned to these ex-US Exondys factors."

For an analyst ratings summary and ratings history on Sarepta Therapeutics click here. For more ratings news on Sarepta Therapeutics click here.

Shares of Sarepta Therapeutics closed at $35.55 yesterday.

You May Also Be Interested In

• Primoris Services Corporation (PRIM) PT Lowered to $172 at Needham, Remains on Conviction List
• UBS Downgrades Waaree Energies (WAAREEEN:IN) to Neutral
• JPMorgan Downgrades Pearson PLC (PSON:LN) (PSO) to Neutral