Why Analysts Remain Bullish On This Biotech Despite Europe Rejection [Investor's Business Daily]
Sarepta Therapeutics, Inc. (SRPT)
Last sarepta therapeutics, inc. earnings: 2/26 04:05 pm
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Source: Investors Business Daily
Related news Analysts remained bullish Friday on Sarepta Therapeutics ( SRPT ) despite European officials' decision to reject its Duchenne muscular dystrophy drug, called Exondys 51. The decision was largely expected. Sarepta stock dipped 2.1%, near 149.60, in midday trading on the stock market today . On the weekly chart, Sarepta stock is forming a cup with a buy point at 176.60. Leerink analyst Joseph Schwartz says the European decision removes a near-term overhang on Sarepta stock. "We continue to believe that eteplirsen (Exondys 51) has an important role in the therapeutic landscape and believe its approval in the EU is a matter of 'when' not 'if,' " he said in a report to clients. He cut his price target on Sarepta stock to 193 from 196 but kept his outperform rating. Early Friday, the Committee for Medicinal Products for Human Use issued a negative opinion on Exondys 51. That confirmed an earlier view delivered in May. Sarepta expects the European Commission to adopt the opinion
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SRPT
Earnings
- 2/28/24 - Beat
SRPT
Sec Filings
- 4/24/24 - Form DEF
- 4/24/24 - Form ARS
- 4/24/24 - Form DEFA14A
- SRPT's page on the SEC website