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Fly News Breaks for May 6, 2015
SRPT
May 6, 2015 | 07:11 EDT
As previously reported, Baird upgraded Sarepta to Outperform from Neutral and increased its price target to $20 from $16. The firm said last night's NDA submission by potential competitor BioMarin (BMRN) indicates the FDA will review both applications and expects Sarepta to solidify a mid-2015 submission following a Q2 meeting with the agency. Baird believes shares could trade above $20 once the NDA is accepted, versus downside of $6-$7 on a significant delay.
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