After William Blair and H.C. Wainwright gave Sarepta Therapeutics (NASDAQ: SRPT) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Alethia Young reiterated a Buy rating on Sarepta Therapeutics yesterday and set a price target of $231. The company’s shares closed yesterday at $121.59.
Young commented:
“: We reiterate our Overweight rating and 12-month price target of $231. We received several positive incremental updates from the Muscular Dystrophy Association (MDA) meeting, including several posters from Sarepta and the company’s LGMD2E presentation by Dr. Rodino-Klapac. Eteplirsen update from PROMOVI shows compelling long-term functional benefit vs. standard of care comparator. The data presented show a delayed loss of ambulation in Exondys 51 vs. SoC, where we view the results as highly compelling log-rank Kaplan-Meier analysis.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 7.9% and a 48.6% success rate. Young covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Vertex Pharmaceuticals, and Puma Biotechnology.
Currently, the analyst consensus on Sarepta Therapeutics is a Strong Buy with an average price target of $207, which is a 70.2% upside from current levels. In a report issued on April 11, Evercore ISI also initiated coverage with a Buy rating on the stock with a $175 price target.
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Based on Sarepta Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $141 million. In comparison, last year the company had a GAAP net loss of $35.36 million.
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Sarepta Therapeutics, Inc. is a commercial-stage biopharmaceutical company, which is engaged in the discovery and development of therapeutics for the treatment of rare diseases. The company was founded on July 22, 1980 and is headquartered in Cambridge, MA.
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