Deutsche Bank Maintains Hold On Sarepta Therapeutics Following BioFEST Conference
In a research report sent to investors today, Deutsche Bank analyst Robyn Karnauskas maintained a Hold rating on Sarepta Therapeutics (NASDAQ:SRPT) with a $24 price target, after she spoke with CEO, Chris Garabedian, at DB’s BioFEST conference regarding the status of Eteplirsen and its current path forward to FDA submission and review.
Karnauskas noted, “4th Biopsies are slightly delayed until YE into early 2015, other trials are progressing (PROMOVI and nonambulatory), the co is working on getting required MRI data, and views the competitive landscape positively. We continue to question the current time lines of a filing by mid-2015 given the amount of work that needs to be completed and data collected/analyzed. We are encouraged that there are clear plans to gather all of the required elements of the filing.”
The analyst added, “We still believe that the overall timeline for approval is aggressive, however this delay does not negatively further impact our assessment.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Robyn Karnauskas has a total average return of 14.0% and a 73.8% success rate. Karnauskas has a -64.6% average return when recommending SRPT, and is ranked #139 out of 3391 analysts.