Skip to main content

Market Overview

For Sarepta, Today's Good News Might Be Just The Beginning

Share:
For Sarepta, Today's Good News Might Be Just The Beginning

Sarepta Therapeutics Inc (NASDAQ: SRPT) shares are up more than 23 percent on Tuesday after the company reported positive numbers on recently-approved Duchenne muscular dystrophy (DMD) drug Exondys 51 at the JPMorgan Healthcare Conference.

The company reported that Exondys 51 saw sales of $5.4 million in Q4 compared to consensus estimates of $4.9 million.

While shareholders cheer the big market move, Baird believes the stock is just getting started.

“Sarepta has dystrophin data coming from SRP-4053 in exon-53-amenable patients in 1H17 and data plans to advance at least three additional assets, two of which were announced today,” the firm notes.

Baird is bullish on the animal data Sarepta presented and predicts that the company can expand its lead in the DMD market if it can replicate the results in human trials.

In addition, the firm notes that the company’s new partnerships with Nationwide Children’s Hospital represent Sarepta’s first venture into the gene therapy market.

The company also reported that 250 boys have already begun the process to receive Exondys 51 insurance reimbursement.

“Given where expectations had come down to (we think the whisper was approaching negative territory), the >250 patient start forms submitted YE16 is above what we believe was a buy-side expectation closer to 150 (and concerns that it could even be <100),” Baird says.

The firm is a strong buyer of Sarepta shares and has named the stock its top 2017 mid-cap pick.

Latest Ratings for SRPT

DateFirmActionFromTo
Mar 2022Morgan StanleyMaintainsEqual-Weight
Mar 2022RBC CapitalMaintainsOutperform
Feb 2022Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for SRPT

View the Latest Analyst Ratings

 

Related Articles (SRPT)

View Comments and Join the Discussion!

Posted-In: Baird DMDAnalyst Color Biotech Long Ideas Analyst Ratings Trading Ideas General Best of Benzinga

Latest Ratings

StockFirmActionPT
SEDGB of A SecuritiesMaintains411.0
PTLOPiper SandlerMaintains28.0
AOUTLake StreetMaintains26.0
RAPTPiper SandlerMaintains52.0
OCXLake StreetMaintains6.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com