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SRPT

Sarepta

$60.95

-0.46 (-0.75%)

, SMMT

Summit Therapeutics

$8.65

-0.414 (-4.57%)

11:43
10/04/16
10/04
11:43
10/04/16
11:43

Piper Jaffray ups Sarepta target to $68 on Summit deal

Piper Jaffray analyst Edward Tenthoff raised his price target for Sarepta Therapeutics (SRPT) to $68 from $64 after the company licensed Summit Therapeutics' (SMMT) ezutromid to treat Duchenne Muscular Dystrophy in Europe, Turkey and the Commonwealth of Independent States. The deal is a smart way for Sarepta to capitalize on its lead in DMD with the recent FDA approval of Exondys51, Tenthoff tells investors in an intraday research note. His new price target of $68 reflects the value of ezutromid. Tenthoff reiterates an Overweight rating on Sarepta. The stock is up 1% to $61.61 in late morning trading. Summit is up 94%, or $8.17, to $16.82.

SRPT

Sarepta

$60.95

-0.46 (-0.75%)

SMMT

Summit Therapeutics

$8.65

-0.414 (-4.57%)

  • 04

    Oct

  • 06

    Nov

SRPT Sarepta
$60.95

-0.46 (-0.75%)

09/21/16
LEER
09/21/16
NO CHANGE
LEER
Market Perform
Previous PTAB ruling remains overhang on Sarepta eteplirsen, says Leerink
Leerink analyst Joseph Schwartz notes that Sarepta (SRPT) has announced favorable Patent Trial and Appeal Board of the U.S. Patent and Trademark Office decisions in favor of its exon 51 and 53 composition of matter patent interference cases against BioMarin (BMRN). However, he points out that these rulings are subject to appeal and a previous ruling from the U.S. Patent Trial and Appeal Board, or PTAB, in favor of BioMarin's method of use patent remains an overhang on the commercialization of Sarepta's eteplirsen. The analyst reiterates a Market Perform rating on Sarepta's shares.
09/23/16
PIPR
09/23/16
NO CHANGE
Target $64
PIPR
Overweight
Sarepta stock issuance strengthens balance sheet, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff says Sarepta Therapeutics has a strengthened balance sheet after issuing 5.02M shares at a price of $59.75. Further, for its Exondys51 approval, Sarepta gained a Rare Priority Review Voucher that could be sold to further pad the company's cash position, Tenthoff tells investors in an intraday research note. He reiterates an Overweight rating on the shares with a $64 price target. The stock is down 5% to $57.74 in late afternoon trading.
09/28/16
09/28/16
NO CHANGE

Experts 'fairly upbeat' on Sarepta drug, says RBC Capital
After speaking with three neurologists who treat DMD, RBC Capital analyst Simos Simeonidis says that the doctors were "fairly bullish" on Sarepta's DMD treatment, EXONDYS 51. The doctors expect to use the drug "in essentially all eligible patients," according to the analyst. Simeonidis raised the price target on Sarepta to $108 from $83 and keeps an Outperform rating on the stock.
09/28/16
JMPS
09/28/16
NO CHANGE
JMPS
Street underestimating price of Sarepta drug, says JMP Securities
JMP Securities analyst Liisa Bayko expects the price of Sarepta's Exondys 51 drug will be above the company's projected annual net price of $300,000. She thinks that the price will come in "closer to $538,000 per year on a gross basis, $457,000 net of discounts and compliance." The analyst raised her price target on the shares to $90 from $60 and keeps an Outperform rating on the stock.
SMMT Summit Therapeutics
$8.65

-0.414 (-4.57%)

02/01/16
ADAM
02/01/16
INITIATION
Target $14
ADAM
Buy
Summit Therapeutics initiated with a Buy at Canaccord
Target $14.
02/01/16
02/01/16
INITIATION

On The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Acadia (ACHC) initiated with an Overweight at KeyBanc... Altisource Residential (RESI) initiated with a Neutral at Nomura... Colony Starwood Homes (SFR) initiated with a Buy at Nomura... EyeGate (EYEG) initiated with a Buy at Rodman & Renshaw... Fortinet (FTNT) initiated with an Outperform at Northland... Halozyme (HALO) initiated with a Buy at Canaccord... Lendingtree (TREE) initiated with an Outperform at Northland... Lindblad Expeditions (LIND) initiated with an Outperform at Credit Suisse... Summit Therapeutics (SMMT) initiated with a Buy at Canaccord... VolitionRx (VNRX) initiated with a Buy at Rodman & Renshaw.
06/21/16
JANY
06/21/16
INITIATION
Target $15
JANY
Buy
Summit Therapeutics initiated with a Buy at Janney Capital
Janney Capital analyst Debjit Chattopadhyay started coverage of Summit Therapeutics with a Buy rating and $15 fair value estimate as he believes the company's pre-clinical data has been compelling and that two upcoming data reads should clarify its outlook and provide a catalyst for the stock.
09/16/16
HCWC
09/16/16
INITIATION
Target $26
HCWC
Buy
Summit Therapeutics initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Carol Ann Werther initiated Summit Therapeutics with a Buy and a $26 price target saying Ezutromid in DMD can potentially generate $1.2B in global sales in FY26.

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