Sarepta Therapeutics (SRPT) Receives a Hold from Oppenheimer


In a report released yesterday, Hartaj Singh from Oppenheimer maintained a Hold rating on Sarepta Therapeutics (SRPT). The company’s shares closed on Friday at $124.88.

Singh noted:

“Recently Sarepta (SRPT) has reported updated (nine-month) data from Study 101 for its AAVrh74.MHCK7 vector that the company has been utilizing for its early stage (N=4) clinical trial in Duchenne muscular dystrophy (DMD). This follows equivocal results with its LGMD program (N=3) in late February and disappointing FY2019 Exondys 51 sales guidance (although in line with OPCO’s below consensus model). We believe that with management’s focus on early stage gene therapy trials, investor sentiment is slowly shifting to a more skeptical stance on other projects. High-risk clinical readouts ( PROMOVI Exondys 51 confirmatory study readout mid/2H19) and regulatory decisions (exon-skipping 53 golodirsen PDUFA 08/19/19), coupled with flattening Exondys 51 sales, could be negatively shifting the near-term risk/reward. While we await greater visibility, we stay neutral.”

According to TipRanks.com, Singh is a 4-star analyst with an average return of 5.8% and a 50.5% success rate. Singh covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Strongbridge Biopharma Plc, and Catabasis Pharmaceuticals.

Currently, the analyst consensus on Sarepta Therapeutics is a Strong Buy with an average price target of $207.94.

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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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