Cowen Remains Cautious on Sarepta Therapeutics Inc (SRPT) Despite Eteplirsen NDA Acceptance

In a research report issued today, Cowen analyst Ritu Baral maintained a Market Perform rating on shares of Sarepta Therapeutics Inc. (NASDAQ:SRPT), following the news that the company’s NDA for eteplirsen for Duchenne muscular dystrophy has been accepted by the FDA under priority review.  No price target was provided.

Baral noted, “We think the FDA has been under too much DMD patient advocate pressure to ‘refuse to file’ or RTF the etep NDA. We are slightly surprised of the slightly early acceptance, and believe it speaks well of the technical and administrative quality of the NDA, but no read through on approvability.”

“We think FDA analysis and questions in the briefing documents, as well as KOL and patient advocate discussions and recommendations as part of the AdComm proceeding will be critical in FDA evaluation of both NDAs. We expect SRPT stock to be highly volatile around any Adcomm given the frequently brutal nature of FDA briefing document analysis, and the small unconventional clinical data set of the etep NDA,” the analyst continued.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ritu Baral has a total average return of 18.2% and a 46.6% success rate. Baral has a 6.9% average return when recommending SRPT, and is ranked #92 out of 3730 analysts.

Out of the 16 analysts polled by TipRanks, 9 rate Sarepta Therapeutics Inc. stock a Buy, while 7 rate the stock a Hold. With a return potential of 6.0%, the stock’s consensus target price stands at $34.55.

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