SVB Leerink analyst Joseph Schwartz raised his price target for Sarepta Therapeutics to $216 from $186 and reiterated an Outperform rating, after the FDA granted accelerated approval to Sarepta's Vyondys53 for Duchenne muscular dystrophy patients amenable to exon 53 skipping, marking the second product from DMD exon-skipping portfolio to be granted AA in the U.S. Schwartz says the news came as a "surprise," but it did confirm his theory that Vyondys53's complete response letter was "merely a bump in the road" towards approval with the FDA leaving Sarepta to "twist in the wind" for a short while before ultimately approving the drug. He believes Vyondys53 approval removes a major overhang for the stock.