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UPDATE: Burril Initiates Sarepta Therapeutics at Market Outperform on Eteplirsen Potential

Sarepta Says FDA Postpones Advisory Committee Meeting to Review Eteplirsen Due to Severe Weather Storm in the Washington D.C.

Burril initiated coverage on Sarepta Therapeutics (NASDAQ: SRPT) with a Market Outperform rating and a $54 price target.

Burril commented, "Sarepta is currently in clinical trials evaluating Eteplirsen, a novel RNA splicing modulator poised to correct genetic mutations which result in a dysfunctional protein and cause diseases of large unmet need. To date, the company has demonstrated both safety and preliminary efficacy in Phase 1 and Phase 2 trials with patients amenable to Exon 51 therapy in Duchenne's Muscular Dystrophy (DMD). Given the final encouraging results from the 201/202 Phase 2 study, we believe shares are poised to move higher. If successful, we believe Sarepta's directed alternative splicing technology has the potential to revitalize the RNA therapeutics space and address multiple multi-billion dollar orphan disease markets."

Sarepta Therapeutics closed at $29.35 on Friday.

Posted-In: BurrilAnalyst Color Initiation Pre-Market Outlook Analyst Ratings


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