Shares of Sarepta Therapeutics Inc SRPT gained more than 1 percent on Thursday after the company reported its third consecutive beat and raise earnings report, analysts at Cowen said in a research report. The firm's Ritu Baral,/a> maintains an Outperform rating on Sarepta's stock with an unchanged $69 price target.
The beat likely contributed to management boosting its full-year 2017 revenue guidance from a prior range of $125 million to $130 million to a new range of $150 million to $155 million.
Finally, the company ended the quarter with $618.4 million in cash, which is sufficient to fund the company's operations through 2020, including a potential European Union approval of Exondys 51 in the first half of 2018, the analyst wrote.
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