Jefferies analyst Gena Wang continues to see low probability of eteplirsen approval by the FDA action date of May 26. She believes weak evidence, the negative panel meeting and a likely data-driven decision by the FDA will lead to Sarepta's (SRPT) drug not being approved. Further, Wang views the recent ruling on BioMarin's (BMRN) 106,007 patent interference on exon 53 skipping as a nearly worst case scenario for both Sarepta and BioMarin. The analyst sees a potentially negative read-through to Sarepta's ongoing 106,008 interference on exon51 skipping. Wang has an Underperform rating on the stock with a $7 price target.

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSImpinj (PI) up... To see the rest of the story go to thefly.com. See Story Here

Consensus for FY24 EPS is $1.65. Still sees FY24 revenue $2.7B-$2.8B, consensus $2.77B.

Reports Q1 revenue $649M, consensus $651.79M. "During the quarter, execution across our business led to double digit revenue growth, on a constant currency basis, and an 18% increase in non-GAAP diluted EPS. At the same time, we made rapid progress on advancing our strategic priorities for the year, including accelerating and maximizing the VOXZOGO opportunity, focusing R&D on the most productive assets, and increasing profitability," said CEO Alexander Hardy. "We were pleased with the outcome of our strategic R&D asset review, resulting in the acceleration and prioritization of the most potentially impactful medicines for patients...Quarterly results were driven by strong demand for VOXZOGO, the only approved treatment for children with achondroplasia, and solid contributions from our established enzyme products...Our registration-enabling plans with VOXZOGO in hypochondroplasia, and ongoing discussions with health authorities to align on development plans for idiopathic short stature and pathway conditions are on-track, with all three studies expected to begin enrollment this year."