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Cowen Remains Sidelined on Two Pharma Stocks: Sarepta Therapeutics Inc. (SRPT) and XOMA Corp. (XOMA)


In light of recent earnings from Sarepta Therapeutics Inc. (NASDAQ:SRPT) and XOMA Corp. (NASDAQ:XOMA), analysts at Cowen highlight pipeline updates and significant transactions in both companies.

Sarepta Therapeutics Inc.

Last week, Sarepta Therapeutics reported disappointing earnings for 3Q15. Following the announcement, analyst Ritu Baral from Cowen weighed in on the stock with a Market Perform rating without assigning a specific price target.

Talking about the financials, Baral says the company’s loss per share of $(1.25) was narrower than her estimates of $(1.65), but lower than consensus estimates of $(1.17). For the quarter, the company reported a net loss of $51.9 million and cash of $111.4 million.

Baral is looking forward to the outcome of SRPT’s eteplirsen, which is currently under FDA review. Eteplirsen is the company’s lead drug for Duchenne muscular dystrophy (DMD). The New Drug Application for eteplirse will be reviewed by January 22. Baral will also be looking forward to the outcome of drisapersen, another DMD treatment that will compete with a drug from BioMarin Pharmaceutical. The FDA will make a decision on drisapersen’s NDA by December 27.

Baral feels since the outcome for eteplirsen is scheduled for a later date than drisapersen, Sarepta will be able to get valuable insights into the perspective of the FDA. This in turn should help SRPT...