H.C. Wainwright analyst Debjit Chattopadhyay raised his price target for Sarepta Therapeutics to $260 from $160 after the FDA reversed course and approved Vyondys 53. The analyst expects the stock to "churn higher into 2021." Today's move "could be just a harbinger," Chattopadhyay tells investors in a research note. Sarepta in premarket trading is up 30%, or $30.55, to $131.02. Given the FDA's course correction, the follow-on approval of casimersen now becomes a high probability outcome, and translates into a nearly $700M topline for Sarepta during 2021, prior to any material gene therapy revenue, says Chattopadhyay. The analyst keeps a Buy rating on Sarepta.