Oppenheimer Maintains Outperform On Sarepta As 3-Year Data Support Eteplirsen’s Clinical Benefit

In a research report issued Tuesday, Oppenheimer analyst Christopher Marai maintained an Outperform rating on Sarepta Therapeutics  (NASDAQ:SRPT) with a $45 price target, as longer term follow-up presented at World Muscle Society (WMS) for SRPT’s eteplirsen’s phase 2b data highlights improved function vs. natural history.

Marai noted, “Newly published nat history data at WMS highlight eteplirsen’s benefit even in the ITT population (including 2 patients who became non-ambulatory). Data demonstrated a clinically meaningful 27-31m benefit (-111m vs -138-142m) (Pane et al.). In the mITT population, the benefit looks significantly better even with recent declines. We continue to expect accelerated approval of eteplirsen given the unmet need, preliminary evidence of efficacy and minimal toxicity that looks better than current standard of care steroids. Recall, a majority of DMD patients receive steroids, that, while not approved, delay disease progression but have side effects.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Christopher Marai has a total average return of 3.4% and a 47.8% success rate. Marai has a -15.9% average return when recommending SRPT, and is ranked #1266 out of 3326 analysts.

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