J.P. Morgan analyst Anupam Rama has maintained their bullish stance on SRPT stock, giving a Buy rating today.
Anupam Rama has given his Buy rating due to a combination of factors relating to Sarepta Therapeutics’ prospects and market position. The anticipated label expansion for Elevidys, a drug for the treatment of Duchenne muscular dystrophy (DMD), is a significant driver of this optimistic outlook. The submission for this label expansion has been accepted with a PDUFA date that is approximately two months earlier than market expectations, indicating a potentially swift and efficient review process by regulatory authorities.
Rama’s analysis suggests a considerable upside for SRPT shares if the label expansion to include ambulant patients is approved. This scenario is reflected in the projected share price range of approximately $175 to $200, with the possibility of reaching $200 to $225 per share if the label is expanded without restrictions. The reinforced Overweight rating on SRPT shares stems from these expectations, which align with the company’s strategic efforts and the potential market growth opportunities upon successful label expansion.
Rama covers the Healthcare sector, focusing on stocks such as Neurocrine, Sarepta Therapeutics, and Ultragenyx Pharmaceutical. According to TipRanks, Rama has an average return of 10.1% and a 52.29% success rate on recommended stocks.
In another report released today, Barclays also maintained a Buy rating on the stock with a $141.00 price target.
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Sarepta Therapeutics (SRPT) Company Description:
Sarepta Therapeutics, Inc. is a commercial-stage biopharmaceutical company, which is engaged in the discovery and development of therapeutics for the treatment of rare diseases. The company was founded on July 22, 1980 and is headquartered in Cambridge, MA.
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