TD Cowen raised the firm’s price target on Sarepta (SRPT) to $17 from $12 and keeps a Hold rating on the shares. The FDA announced that it recommended removing Elevidys’ voluntary clinical hold in ambulatory DMD patients, and Sarepta has indicated that it will resume Elevidys shipments for ambulant patients imminently, the analyst tells investors in a research note. The firm is encouraged by the timing of the FDA announcement, and believes the swiftness of the positive decision bodes well for Sarepta’s near-term relationship with the agency.
Claim 55% Off TipRanks
Trade SRPT with leveragePublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SRPT:
- Roche says set to resume shipments of Sarepta’s Elevidys outside U.S.
- Barclays upgrades Sarepta to Equal Weight with worst-case ‘off the table’
- Sarepta upgraded to Equal Weight from Underweight at Barclays
- Sarepta upgraded, Tapestry downgraded: Wall Street’s top analyst calls
- Morning Movers: Boeing, P&G advance after earnings