Sarepta Therapeutic (SRPT) Story Remains Intact, Needham & Company Says

Needham & Company analyst Chad Messer reiterated a Buy rating and $52 price target on Sarepta Therapeutic (NASDAQ: SRPT) saying while the NDA filing delay is an unfortunate setback the story remains intact.

Merrer said, "In its latest vacillation, the FDA is now requesting 3 month data from newly exposed Duchenne's muscular dystrophy (DMD) patients, as well as additional other specified data, before accepting an NDA filing for eteplirsen. These requests push out the date of the NDA filing from YE:14 to mid-2015. While the delay is an unfortunate set back, we emphasize that in general these requests encompass data that Sarepta already intended to submit to the FDA, albeit post NDA filing. We continue to expect approval and believe SRPT shares are attractive at current levels and reiterate our Buy rating and $52 price target."

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

Shares of Sarepta Therapeutic closed at $23.56 yesterday.

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