In a report released today, Alethia Young from Cantor Fitzgerald reiterated a Buy rating on Sarepta Therapeutics (SRPT), with a price target of $217. The company’s shares opened today at $151.99.
Young said:
“: Reiterate Overweight and PT of $217; we think early limb girdle muscular dystrophy (LGMD2E) achieved proof of concept. Initial data in 3 patients from the company’s ongoing LGMD2E study was presented this morning. We think that these data achieved proof of concept around efficacy and exceeded our expectations highlighted in our preview note. We think steroids can manage the liver enzyme increases seen; steroids are not standard of care in LGMD.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 5.4% and a 48.8% success rate. Young covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Vertex Pharmaceuticals, and Puma Biotechnology.
Sarepta Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $202.62, implying a 33.3% upside from current levels. In a report issued on February 12, Nomura also reiterated a Buy rating on the stock with a $205 price target.
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Based on Sarepta Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $76.39 million. In comparison, last year the company had a GAAP net loss of $24 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 neuromuscular diseases. It focuses on the development of its potentially disease-modifying Duchenne Muscular Dystrophy drug candidates.
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