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Actionable news in SRPT: Sarepta Therapeutics, Inc.,

Wedbush Bullish On Sarepta's Eteplirsen Data

Wedbush’s Heather Behanna believes there is a “good chance” that eteplirsen would receive approval in 3Q16, if Sarepta Therapeutics Inc SRPT is able to demonstrate “an eteplirsen-driven increase in dystrophin.”

Behanna reiterated an Outperform rating on the company, with a price target of $36.

Optimistic On Eteplirsen

The analyst believes the company has submitted new dystrophin data for eteplirsen, following which an FDA decision is awaited.

Sarepta Therapeutics is expected to report its GAAP EPS at ($1.35) for 2Q16, in-line with the estimate but with a greater loss than the consensus expectations. The company had $135 million in cash at the end of the quarter.

Behanna believes that “if eteplirsen is approved, Sarepta will look to bolster its balance sheet through dilutive or non-dilutive measures in the near term to help finance its trials and potentially a launch of eteplirsen.”

NOTE: In Tuesday's after-hours session, Sarepta reported an adjusted earnings per share loss of $1.19.

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DateFirmActionFromTo
Jul 2016WedbushReiteratesOutperform
Jun 2016WedbushUpgradesNeutralOutperform
May 2016OppenheimerUpgradesPerformOutperform

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