Raymond James Resumes Sarepta Therapeutics (SRPT) at Outperform

Raymond James analyst Danielle Brill resumes coverage on Sarepta Therapeutics (NASDAQ: SRPT) with a Outperform rating and a price target of $150.00.

The analyst comments "SRPT - Reinstate at Outperform and a $150 PT. During our absence, the “uber bull case” played out for SRPT as they managed to secure full approval of Elevidys with a broad label (ambulatory/ non-ambulatory DMD). Despite this, the stock is trading lower than it was ahead of the approval. While M&A spec has begun to diminish, likely explaining the weaker than expected stock performance, we think the Elevidys launch will surpass expectations and drive the stock higher over the next ~12-months. Furthermore, we believe SRPT can recreate their DMD success with LGMD which continues to advance in Phase 3. While we note several competitor advancements that pose a threat to SRPT’s base business, we believe both Elevidys and LGMD opportunities will more than offset the potential headwinds for SRPT’s RNA franchise."

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 $117.99 yesterday.

You May Also Be Interested In

• Deutsche Bank Starts Hochtief AG (HOT:GR) (HOCFF) at Hold
• ICICI Securities Downgrades Siemens Ltd. (SIEM:IN) to Hold (3)
• Goldman Sachs Upgrades Clariant AG (CLN:SW) (CLZNY) to Buy