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Deutsche Bank Reiterates Buy on Sarepta Therapeutics Following Two Key Controversies

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In a report published Wednesday, Deutsche Bank analyst Robyn Karnauskas reiterated a Buy rating and $45.00 price target on Sarepta Therapeutics (NASDAQ: SRPT).

In the report, Deutsche Bank noted, “Our base case scenario assumes Breakthrough designation for Eteplirsen. However we note that, if granted, such a designation might be at risk later on when Drisapersen comes to markets. Drisapersen will potentially reach markets in late 2014/early 2015. However, we do not know how strict will FDA be in implementing these withdrawal guidelines. We note that similar withdrawal guidelines exist for Fast Track development program but such withdrawals are uncommon. We also note that Sarepta drug has substantial safety advantage over Drisapersen which could help it retain the designation. We expect to get clarity around breakthrough designation before the start of Eteplirsen phase III trial.”

Sarepta Therapeutics closed on Tuesday at $39.73.

Latest Ratings for SRPT

Feb 2015Cowen & CompanyDowngradesOutperformMarket Perform
Feb 2015Bank of AmericaUpgradesBuy
Jan 2015WedbushInitiates Coverage onNeutral

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Posted-In: Deutsche Bank Robyn KarnauskasAnalyst Color Reiteration Analyst Ratings


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