Deutsche Bank raised the firm’s price target on Sarepta (SRPT) to $14 from $12 and keeps a Sell rating on the shares. The company yesterday exported positive preliminary data for its ARWR-licensed siRNA assets, SRP-1001 and SRP-1003, which came in above investor expectations, the analyst tells investors in a research note. Deutsche, however, is surprised by the stock’s 35% rally, given the small number of patients dosed, limited duration of treatment, lack of data from multiple ascending dose cohorts, lack of key biomarkers. The data could merit a stock move of 15%-20%, making the 35% rally overdone, contends the firm.
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Read More on SRPT:
- Sarepta price target raised to $35 from $29 at Wedbush
- Sell Rating on Sarepta: Strong siRNA Muscle Exposure Undermined by Weak Clinical Validation and ELEVIDYS Sales Risk
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- Sarepta price target raised to $13 from $9 at Citi
- Sarepta price target raised to $25 from $20 at Morgan Stanley