Heading into the May 26 PDUFA date for an approval or nonapproval of Sarepta Therapeutics Inc’s (NASDAQ:SRPT) Duchenne muscular dystrophy treatment, eteplirsen, WBB Securities analyst Stephen Brozak reiterated a Strong Buy rating on the stock, with a price target of $40, which represents a potential upside of 171% from where the stock is currently trading.

Sarepta shares are currently up by 26.58% at $14.62, as of 1:00 PM EDT.

Brozak wrote, “I attended the April 25, 2016 meeting of the Peripheral and Central Nervous System Drugs Advisory Committee and in my opinion, the final outcome of the eteplirsen New Drug Approval process for treating Duchene Muscular Dystrophy (DMD) relies on who the FDA will believe and whether or not flexibility prevails in the face of a drug with no safety issues and extensive positive patient and parent testimony. We believe that the mixed panel voting, especially on the final question, reflects what the FDA calls a Type Two Mistake – failure to approve a beneficial drug.”

“Janet Woodcock, Director of the Center for Drug Evaluation and Research (CDER), and the person who will make the final recommendation to the Commissioner of the FDA, urged panel members to take into account the totality of the data, meaning patient testimony as well as study results. For these reasons, we believe there is a good chance the FDA will ultimately grant conditional approval to eteplirsen and demand a post-approval trial by Sarepta,” the analyst concluded.

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Stephen Brozak has a yearly average return of 11% and a 40% success rate. Brozak has a -34.5% average return when recommending SRPT, and is ranked #718 out of 3914 analysts.

Out of the 13 analysts polled by TipRanks, 4 rate Sarepta stock a Buy, 8 rate the stock a Hold and 1 recommends a Sell. With a return potential of 36%, the stock’s consensus target price stands at $20.