Sarepta Therapeutics Gains 8% on Roth Endorsement of Duchene Muscular Dystrophy DrugTim Kennedy (Author) Published Date : May 30, 2014 01:23 IST
Shares of Sarepta Therapeutics (SRPT) are up another 8% Friday in reaction to a Roth Capital Partners note endorsing the revenue possibility of Sarepta's Duchenne Muscular Dystrophy (DMD) treatment, Eteplirsen. Because of the rarity of DMD, Eteplirsen could receive orphan drug status and Roth sees significant first-mover advantage for the drug with estimated U.S. sales of $17 million in 2017 and $2.2 billion by by 2023. With a fourth-quarter 2014 new drug application (NDA) filing, and multiple clinical milestones, shares of Sarepta are likely to be at the center of investor spotlight over the next six-to-18 months. Therefore, Roth initiates SRPT with a Buy rating and $52 price target. Shares of SRPT have gained 17% over the past three days, and last traded at $35.24 with a 52-week range of $12.12 to $55.61.
Sarepta Therapeutics Gains 8% on Roth Endorsement of Duchene Muscular Dystrophy Drug