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Fly News Breaks for May 25, 2016
SRPT
May 25, 2016 | 09:13 EDT
Piper Jaffray analyst Edward Tenthoff still believes eteplirsen will not be approved after Sarepta Therapeutics announced that the FDA will not complete its review by tomorrow's action date. The delay, however, does avoid the worst-case scenario of an immediate Complete Response Letter for the Duchenne muscular dystrophy treatment, Tenthoff tells investors in a research note. The analyst reiterates an Underweight rating on Sarepta with a $6 price target. The stock is up 22%, or $4.07, to $22.51 in pre-market trading.
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