Roth Capital analyst Debjit Chattopadhyay was out pounding the table on Sarepta Therapeutics Inc (NASDAQ:SRPT) Monday, reiterating a Buy rating and price target of $22, which represents a potential upside of 54.5% from where the stock is currently trading.
Chattopadhyay noted, "Sarepta's mid-15 NDA submission could be a watershed event especially because the consensus is almost unanimous in its expectation of a delay, in our view. The optimism expressed by competitor BioMarin Pharmaceutical Inc.(NASDAQ:BMRN) is potentially misplaced, since we view its data to be potentially flawed, AON chemistry outdated, and safety profile questionable. Hence, if the FDA entertains/approves BMRN it may also signal an accelerated approval (AA) for SRPT, and at an EV of ~$352M SRPT's risk/reward is attractive, in our view."
Furthermore, "Our target fully discounts any AA. Even if BioMarin's drisapersen were to be approved during 2H15, its safety profile is likely to be major commercial hurdle. Hence, a head start may not amount to much."
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 12.2% and a 42.7% success rate. Chattopadhyay has a -21.5% average return when recommending SRPT, and is ranked #423 out of 3568 analysts.