Oppenheimer Reiterates Outperform on Sarepta Therapeutics Inc Ahead of WMS Conference
In a research report released Monday, Oppenheimer analyst Christopher Marai reiterated an Outperform rating on shares of Sarepta Therapeutics Inc (NASDAQ :SRPT), with a price target of $45, ahead of October 1’s conference call, where the company will discuss data being presented at the World Muscle Society Meeting on eteplirsen.
Marai wrote, “We will be attending the meeting to discuss the data as well as US/EU regulatory perspectives with KOLs, business-development teams, emerging DMD sales forces and others in attendance. Importantly, we look to glean further insight into the EU regulatory landscape on DMD which has been shifting more positively for oligonucleotide therapeutics. We continue to anticipate accelerated approval of eteplirsen; however, we that note SRPT shares are likely to be volatile around WMS data and FDA advisory committee meeting briefing documents. We view such potential weakness around these events as a buying opportunity ahead of an expected FDA approval.”
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 21.4% and a 51.6% success rate. Marai has a 78.6% average return when recommending SRPT, and is ranked #68 out of 3759 analysts.
Out of the 15 analysts polled by TipRanks, 10 rate Sarepta Therapeutics stock a Buy, while 5 rate the stock a Hold. With a return potential of 19.5%, the stock’s consensus target price stands at $41.18.