Sarepta Therapeutics Inc (NASDAQ:SRPT), a developer of innovative RNA-targeted therapeutics, today announced that the U.S. Food and Drug Administration (FDA) has requested that Sarepta provide dystrophin data, as measured by western blot, from biopsies already obtained from the ongoing confirmatory study of eteplirsen (PROMOVI), as part of its ongoing evaluation of the eteplirsen New Drug Application (NDA). The Company plans to submit data from thirteen patient biopsy samples, at baseline and Week 48, to the FDA over the coming weeks to facilitate a prompt decision on the NDA by the Agency. (Original Source)
Shares of Sarepta jumped 22% to $19.65 in after-hours trading. SRPT has a 1-year high of $41.97 and a 1-year low of $8. The stock’s 50-day moving average is $17.45 and its 200-day moving average is $21.93.
On the ratings front, Sarepta has been the subject of a number of recent research reports. In a report released today, Jefferies Co. analyst Gena Wang reiterated a Sell rating on SRPT, with a price target of $7, which reflects a potential downside of -56.4% from last closing price. Separately, on June 2, Piper Jaffray’s Edward Tenthoff reiterated a Sell rating on the stock and has a price target of $6.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Gena Wang and Edward Tenthoff have a total average return of -8.1% and -0.7% respectively. Wang has a success rate of 46% and is ranked #3490 out of 3894 analysts, while Tenthoff has a success rate of 39% and is ranked #2824.
Overall, 5 research analysts have rated the stock with a Sell rating, 4 research analysts have assigned a Hold rating and 5 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $27.60 which is 72.0% above where the stock opened today.
Sarepta Therapeutics, Inc. is a biopharmaceutical company, which is engaged in the discovery and development of unique RNA-based therapeutics for the treatment of rare and infectious diseases. The company is primarily focused on rapidly advancing the development of its potentially disease modifying duchenne muscular dystrophy drug candidates.
