Jefferies analyst Gena Wang keeps an Underperform rating on Sarepta Therapeutics (SRPT) with a $7 price target after speaking with an FDA regulatory expert regarding the departure of FDA former agent Dr. Farkas. Shares of Sarepta closed yesterday up $6.85, or 27%, to $32.45 following news that Farkas, the clinical team leader for the review of Sarepta's eteplirsen, left the agency for a position at PAREXEL (PRXL). The expert Wang spoke to sees no changes on the probability of approval and believes a longer delay suggests a tougher path to approval. The analyst continues to see low probability of approval for Sarepta's Duchenne muscular dystrophy treatment. It was known that Dr. Farkas had been looking for a career change for over a year, the expert told Wang. As such, she believes the departure was unlikely due solely to the eteplirsen review. Further, all documents produced by Dr. Farkas until his departure should have been officially recorded and the whole Division of Neurology Product collectively holds the negative opinion, Wang tells investors in a research note.