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Sarepta Therapeutics (SRPT) Stock Rising, Price Target Upped at Oppenheimer

NEW YORK (TheStreet) -- Shares of Sarepta Therapeutics (SRPT - Get Report) are spiking by 7.37% to $20.97 in pre-market trading on Wednesday, as Oppenheimer increased its price target on the stock to $60 from $45 and maintained its "outperform" rating.

The Cambridge, MA-based biopharmaceutical company is focused on the treatment of rare and infectious diseases.

The higher price target comes on the firm's anticipation of a positive FDA panel this month and anticipated approval for Sarepta's eteplirsen drug, which treats Duchenne muscular dystrophy (DMD), a disorder of progressive...