UPDATE: Deutsche Bank Initiates Sarepta Therapeutics to Buy on Eteplirsen Outlook for Approval

Deutsche Bank initiated coverage on Sarepta Therapeutics

with a Buy rating and a $45.00 price target. Deutsche Bank analyst Robyn Karnauskas commented, "Sarepta is developing a RNA modulator, Eteplirsen, for the treatment of Duchenne Muscular Dystrophy (DMD). While our checks indicate Eteplirsen is unlikely to get accelerated approval, we see approval likely by mid-2015. We see Eteplirsen as having better safety profile versus its competitor Drisapersen that will allow it to take majority share. We see fair-value of Eteplirsen in the US only at $45/share & tremendous upside if the street assigns value to EU or other exon therapy opportunities." Sarepta Therapeutics closed at $33.03 on Monday.