In a research report released this morning, Roth Capital analyst Debjit Chattopadhyay reiterated a Buy rating on Sarepta Therapeutics (NASDAQ:SRPT) with a $22 price target, which represents a potential upside of 56% from where the stock is currently trading.

Chattopadhyay wrote, “Yes, Sarepta had a bad 2014 and sentiment on the stock is at an extreme. However, its platform is potentially superior to Prosensa, which was acquired for $840M by Biomarin, included $160M in milestones, implied EV of ~$780M. Hence, SRPT’s current ~$361M EV discounts more than accelerated approval, in our view.”

The analyst continued, “Given the recent progress with the FDA and in advancing its pipeline, at current levels SRPT shares offer a compelling entry point for long-term investors.” He added, “The challenges are obvious, but we believe SRPT is making rapid progress and should be able to meet the FDA’s requirement for the mid-15 NDA submission.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Debjit Chattopadhyay has a total average return of 6.4% and a 50.0% success rate. Chattopadhyay has a -19.6% average return when recommending SRPT, and is ranked #708 out of 3429 analysts.