Duchenne Gene Therapy Firm Sarepta Therapeutics' Earns 8% Price Target Hike From This Analyst

  • Earlier today, Sarepta Therapeutics Inc SRPT announced that it would submit the marketing application and seek accelerated FDA approval for SRP-9001 in Duchenne Muscular Dystrophy (DMD) this fall. 
  • Sarepta’s data disclosures earlier this month showed statistically significant functional improvements across company studies compared to an external, matched control, Needham wrote.
  • The analyst increased the price target from $150 to $162, reflecting an increase in expected EPS for 2025.
  • Needham is bullish based on emerging data across SRP-9001 studies has shown clinical benefit, especially when considered against matched natural history. 
  • Related: Sarepta Reports One Heart Inflammation Case In Duchenne Gene Therapy Trial.
  • The analyst believes SRP-9001 has the most manageable toxicity profile of all AAV-based gene therapies in DMD.
  • Needham expects a high likelihood for an advisory committee ahead of approval. Likely, safety data from the ongoing EMBARK study will also be included in Adcomm materials. 
  • The analyst anticipates the application acceptance (~2 months post-filing) to de-risk SRP-9001, proceeding to an accelerated approval and potential launch in 2H of 2023.
  • Price Action: SRPT shares are up 8.16% at $92.95 during the market session on the last check Friday.
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