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Fly News Breaks for June 9, 2016
SRPT
Jun 9, 2016 | 12:02 EDT
Piper Jaffray analyst Edward Tenthoff upgraded Sarepta Therapeutics to Neutral from Underweight and raised his price target for the shares to $17 from $6. The stock is up 10%, or $1.90, to $21.34 in midday trading. The analyst remains unsure as to how to handicap eteplirsen's chances for accelerated approval. He prefers to be at a Neutral rating ahead of the FDA's decision. If the FDA does approve eteplirsen, Sarepta's equity raise today could be the bridge the company needs to the next financing, Tenthoff tells investors in an intraday research note.
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