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Fly News Breaks for June 1, 2018
SRPT
Jun 1, 2018 | 09:47 EDT
Baird analyst Brian Skorney said the fact that the EMA's Committee for Medicinal Products for Human Use adopted a negative opinion for Exondys was "well telegraphed" given the previous negative trend vote and he doesn't expect any pressure on Sarepta shares from the news, which should be "no surprise." Sarepta will request a re-examination and will also request a Scientific Advisory Group on DMD, said Skorney. He noted that while the odds "certainly don't favor a positive conclusion," he thinks the consensus view may be even more bearish on the probability of success than the 23% success rate of the 13 re-examinations from 2014-2017. Skorney keeps an Outperform rating and $101 price target on Sarepta shares, which are fractionally higher at $94.31 in early trading.
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