UPDATE: Wedbush Says Sarepta Presentation at WOC Suggests Accelerated FDA Approval Coming

Traders in Sarepta Therapeutics SRPT shares attributed strength in the stock around 1PM EST to a positive note from Wedbush's Christopher Marai. While the stock is still negative for Monday's session, shares are now about 1.5 percent above session lows. Marai said he is "encouraged" by the company's on-going discussion of progress with the FDA. The analyst believes an update on plans will follow the FDA minutes in mid-to-late April. Marai's likelihood for accelerated approval of eteplirsen by the FDA remains at 50 percent. Wedbush maintains an Outperform rating and $60 price target on shares of Sarepta.