UPDATE: Stifel Initiates Coverage on Sarepta Therapeutics with Buy Rating, $51 PT on Attractive Investment Opportunity

In a report published Friday, Stifel analyst Brian Klein initiated coverage on Sarepta Therapeutics SRPT with a Buy rating and $51.00 price target. In the report, Stifel noted, “We are initiating coverage of Sarepta Therapeutics (SRPT) with a Buy rating and $51 target price, as we believe the company represents an attractive investment biotechnology opportunity in the rare (orphan) disease space. Our thesis is predicated on the clinical and commercial success of lead pipeline asset Eteplirsen, which has already demonstrated compelling safety and tolerability in a Phase 2b clinical study. In addition, the company's broad platform technology provides an avenue for the discovery and development of additional clinical candidates for genetically inherited and difficult to treat infectious diseases.” Sarepta Therapeutics closed on Thursday at $36.31.