Morgan Stanley raised the firm’s price target on Sarepta (SRPT) to $25 from $20 and keeps an Equal Weight rating on the shares. Early Phase 1/2 data in facioscapulohumeral muscular dystrophy and myotonic dystrophy type 1 confirm dose dependent increases in muscle concentration, favorable tolerability, and robust biomarker reductions despite a single dose, the analyst tells investors in a research note. The firm added that it believes early data are better than expected, suggesting the potential for a best-in-class profile and awaits updated results.
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