Sarepta Therapeutics Inc (NASDAQ:SRPT), a developer of innovative RNA-targeted therapeutics, announced that the U.S. Food and Drug Administration’s (FDA) Peripheral and Central Nervous System Advisory Committee meeting scheduled for Friday, January 22 has been postponed by the FDA due to an anticipated severe winter snowstorm forecasted to hit the Washington D.C. area. A future meeting date will be announced in the Federal Register. In the event of a change in theFebruary 26, 2016 PDUFA date, the company will provide an update at that time.
The Advisory Committee was scheduled to review Sarepta’s New Drug Application (NDA) for eteplirsen, for the treatment of Duchenne muscular dystrophy (DMD) amenable to exon 51 skipping. The new drug application (NDA) for eteplirsen is being reviewed under the FDAaccelerated approval pathway, which allows early approval of a drug for a serious or life-threatening illness that offers a benefit over current treatments. (Original Source)
Shares of Sarepta Therapeutics Inc. closed yesterday at $13.26 . SRPT has a 1-year high of $41.97 and a 1-year low of $11.42. The stock’s 50-day moving average is $34.46 and its 200-day moving average is $32.93.
On the ratings front, Sarepta Therapeutics has been the subject of a number of recent research reports. In a report issued on January 19, RBC analyst Simos Simeonidis reiterated a Hold rating on SRPT, with a price target of $15, which implies an upside of 13.1% from current levels. Separately, on January 15, Oppenheimer’s Christopher Marai reiterated a Buy rating on the stock and has a price target of $45.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Simos Simeonidis and Christopher Marai have a total average return of -30.3% and 12.1% respectively. Simeonidis has a success rate of 17.8% and is ranked #3536 out of 3579 analysts, while Marai has a success rate of 49.5% and is ranked #66.
Overall, 5 research analysts have assigned a Hold rating and 5 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $42.50 which is 220.5% above where the stock closed yesterday.
Sarepta Therapeutics Inc is a biopharmaceutical company focused on the discovery and development of unique RNA-targeted therapeutics for the treatment of rare, infectious and other diseases.