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SRPT

Sarepta

$31.26

1.18 (3.92%)

, CATB

Catabasis Pharmaceuticals

$4.13

-0.11 (-2.59%)

11:13
01/10/17
01/10
11:13
01/10/17
11:13

Sarepta surges following update on Exondys 51 launch

Shares of Sarepta Therapeutics (SRPT) surged higher after the company disclosed sales data for the launch of its Duchenne muscular dystrophy drug Exondys 51. Sales of the drug hit $5.4M as of December 31, 2016, Sarepta reported at today's JPMorgan Healthcare Conference. The company also stated that a majority of insurance plans are covering or evaluating coverage on a case-by-case basis. Only 8% of Covered Lives are denying converge while 79% are pending policy decisions, Sarepta CEO Edward Kaye said today. He notes that over 250 genetically verified start forms have been submitted since the launch of Exondys 51. The company, for the first time, also disclosed data in mice for its next generation antisense platform, PPMO. The data show improved delivery in vivo and "superior" dystrophin, Kaye told the audience. Sarepta expects to dose PPMO in humans by the end of 2017. Sarepta shares are up 13% to $35.46 in morning trading. Catabasis Pharmaceuticals (CATB) is up 7% to $4.44. The two companies last September announced a joint research collaboration to explore a combination drug treatment approach for Duchenne muscular dystrophy.

SRPT

Sarepta

$31.26

1.18 (3.92%)

CATB

Catabasis Pharmaceuticals

$4.13

-0.11 (-2.59%)

  • 10

    Jan

SRPT Sarepta
$31.26

1.18 (3.92%)

12/22/16
JPMS
12/22/16
INITIATION
Target $40
JPMS
Overweight
Sarepta initiated with an Overweight at JPMorgan
JPMorgan analyst Anupam Rama started Sarepta Therapeutics with an Overweight rating and $40 price target. The stock is down over 50% since the September approval of Exondys 51 for the treatment of Exon 51 Duchenne muscular dystrophy, Rama tells investors in a research note. The analyst believes that while shares could be range-bound in the first half of 2017 amid a "conservative launch trajectory" relative to consensus expectations, Sarepta "could be poised for a rebound" in the second half of the year as it works work with payers and provides greater clarity. He thinks "patience will be required" for Sarepta investors.
12/22/16
12/22/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Microsoft (MSFT) initiated with an Overweight at Piper Jaffray. 2. Sarepta (SRPT) initiated with an Overweight at JPMorgan. 3. Oracle (ORCL) initiated with an Overweight at MUFG. 4. Zillow (Z, ZG) initiated with a Hold at Stifel. 5. Las Vegas Sands (LVS) was initiated with a Buy and Wynn Resorts (WYNN) was initiated with a Neutral at Aegis. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/23/16
OPCO
12/23/16
NO CHANGE
Target $76
OPCO
Outperform
Oppenheimer remains bullish on Sarepta
Oppenheimer analyst Hartaj Singh notes that Sarepta has a commercial and active product in Exondys 51 for Exon 51 amenable Duchenne muscular dystrophy, a disease with a high unmet need. The analyst believes that a "complex reimbursement environment" coupled with a small target patient population in the U.S. could lead to a slower launch than expected. However, once the reimbursement process is settled and the patient on-boarding process is efficient, he expects a stronger sales ramp. Singh remains bullish on the stock, and reiterates an Outperform rating and $76 price target on the shares.
01/06/17
JMPS
01/06/17
NO CHANGE
Target $65
JMPS
Outperform
Sarepta price target lowered to $65 after physician survey at JMP Securities
JMP Securities analyst Liisa Bayko reported the firm conducted its first survey of U.S. physicians who treat Duchenne muscular dystrophy patients to gauge early experiences with Sarepta's Exondys 51. At the end of 2016, respondents had written a prescription to about 1 in 5 eligible patients, 1 in 5 were denied coverage and about 15% were in the adjudication process, noted Bayko, who lowered her price target on Sarepta to $65 from $90 to adjust for the survey results as well as an updated pricing analysis. Bayko keeps an Outperform rating on Sarepta and said she sees potential upside to about $160 per share if Exondys 51 is approved in the EU and if all of its earlier-stage assets targeting exons 45/53 are successful.
CATB Catabasis Pharmaceuticals
$4.13

-0.11 (-2.59%)

06/09/16
SBSH
06/09/16
NO CHANGE
Target $8
SBSH
Buy
Catabasis Pharmaceuticals price target lowered to $8 from $16 at Citi
Citi analyst Joel Beatty halved his price target for Catabasis Pharmaceuticals to $8 and removed CAT-2054 from his model after the agent failed to lower cholesterol on top of statins in a Phase 2 trial. The analyst, however, continues to see favorable risk/reward into Phase 2 data in late 2016 for lead agent CAT-1004 in Duchenne Muscular Dystrophy. Beatty keeps a Buy rating on Catabasis.
11/11/16
COWN
11/11/16
NO CHANGE
Target $30
COWN
Outperform
Catabasis Pharmaceuticals shares remain undervalued, says Cowen
Cowen analyst Phil Nadeau believes Catabasis Pharmaceuticals shares remain undervalued based on the potential of edasalonexent. The analyst said the company's proof-of-concept data will be released in Q1. Nadeau maintained his Outperform rating and $30 price target on Catabasis Pharmaceuticals shares.
12/22/16
HCWC
12/22/16
INITIATION
Target $14
HCWC
Buy
Catabasis Pharmaceuticals initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Carol Ann Werther started Catabasis Pharmaceuticals with a Buy rating and $14 price target. Edasalonexent is an oral agent that has the potential to treat all 50,000 Duchenne muscular dystrophy patients in the developed world, Werther tells investors in a research note. She believes the drug may reach the U.S. and European markets in 2021.
01/04/17
OPCO
01/04/17
NO CHANGE
Target $18
OPCO
Outperform
Catabasis approaching 'important inflection point,' says Oppenheimer
Oppenheimer analyst Hartaj Singh believes Catabasis Pharmaceuticals is approaching an "important inflection point," with Phase 1/2 MoveDMD Part B top-line data release in the first half of Q1. The analyst notes that a positive MoveDMD trial should lead to a pivotal Phase 3 trial being initiated by the company later in 2017. He reiterated an Outperform rating on the stock, but lowered his price target on the shares to $18 from $23 on valuation.

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$6.25

0.055 (0.89%)

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CVM

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HAIN

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Hain Celestial

$33.16

0.13 (0.39%)

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$8.66

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MMSI

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FSLR

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ABBV

AbbVie

$72.80

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$NSD

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