Credit Suisse analysts Martin Auster, Mark Connolly and Tiago Fauth initiated coverage on Sarepta with an Outperform rating and a $178 price target.
Credit Suisse’s sum-of-the-parts analysis indicates significant upside opportunity for the Duchenne muscular dystrophy combatant.
“Despite high expectations for the DMD gene therapy program, we see room for continued share appreciation as the program develops,” Auster, Connolly and Fauth wrote in a note. “While we expect initial data from all three clinical stage gene therapy programs likely will demonstrate robust dystrophin expression in skeletal muscle, we think SRPT’s first mover advantage and strong initial data sets a high bar and a strong competitive position.”
The analysts expect Sarepta to release DMD gene therapy data in October, with Pfizer Inc. (NYSE: PFE) and Solid Biosciences Inc (NASDAQ: SLDB) following in 2019. The “first mover” is modeled to seize a 50-percent market share in with peak sales near $4 billion and annual recurring revenue of $1.5 billion.
Credit Suisse sees Sarepta’s DMD gene therapy representing $99 per share and PMO and PPMO candidates contributing between $35 and $60.
Sarepta shares traded up about 1.4 percent to $142.76 at time of publication.
Morgan Stanley Buys Into Sarepta Amid Sell-Off, Sees 0M Recurring Opportunity In DMD Candidate
Sarepta's Clinical Hold Could Be A Solid Biosciences Catalyst, Says Bullish Chardan Analyst
Latest Ratings for SRPT
|Sep 2018||Credit Suisse||Initiates Coverage On||Outperform|
|Aug 2018||Morgan Stanley||Upgrades||Equal-Weight||Overweight|
View More Analyst Ratings for SRPT
View the Latest Analyst Ratings
See more from Benzinga
- Morgan Stanley Buys Into Sarepta Amid Sell-Off, Sees 0M Recurring Opportunity In DMD Candidate
- Sarepta's Clinical Hold Could Be A Solid Biosciences Catalyst, Says Bullish Chardan Analyst
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