Sarepta Therapeutics (SRPT) Receives a Buy from Cantor Fitzgerald

Cantor Fitzgerald analyst Alethia Young reiterated a Buy rating on Sarepta Therapeutics (SRPT) today and set a price target of $217. The company’s shares closed on Friday at $119.35.

Young commented:

“: Reiterating our Overweight rating and $217 PT which is 12-month upside of 82% after current weakness. In this report, we discuss our expectations for upcoming pivotal design for the company’s micro-dystrophin program expected before year-end. We think that the regulator-approved design will be in line with Sarepta’s guidance. Bigger picture, Sarepta remains a top franchise pick over 2019, as we think the company still has catalysts beyond micro-dystrophin that are unappreciated by the Street. Key catalysts in 1Q19 will be limb girdle 2E data in first three patients and next-generation PPMO chemistry readout.”

According to TipRanks.com, Young is a 4-star analyst with an average return of 3.6% and a 46.6% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Puma Biotechnology, and Intercept Pharma.

Currently, the analyst consensus on Sarepta Therapeutics is a Strong Buy with an average price target of $197.11, a 65.2% upside from current levels. In a report issued on November 14, Credit Suisse also maintained a Buy rating on the stock with a $189 price target.

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The company has a one-year high of $176.50 and a one-year low of $50.68. Currently, Sarepta Therapeutics has an average volume of 1.15M.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Hans Lennart Rudolf Wigzell, a Director at SRPT sold 6,667 shares for a total of $936,714.

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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 neuromuscular diseases. It focuses on the development of its potentially disease-modifying Duchenne Muscular Dystrophy drug candidates.