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SRPT

Sarepta

$31.26

1.18 (3.92%)

13:45
01/10/17
01/10
13:45
01/10/17
13:45

Leerink discusses discrepancy between Sarepta revenue, start forms

Leerink analyst Joseph Schwartz says that for Sarepta Therapeutics to meet the Q4 revenue estimate of $6.0M, he anticipated a greater than 200 start form number. The company, however, reported $5.4M in sales despite a start form number of over 250. The discrepancy between start forms and the revenue miss could be due to several factors, including the translatability of start forms to reimbursed written prescriptions and patient demographics, Schwartz tells investors in a research note. Continued push-back from payors that limit reimbursement could render the start form number inaccurate, he contends. The analyst views today's numbers from Sarepta as "encouraging," but sees room for improvement. Schwartz keeps a Market Perform rating on the shares.

  • 10

    Jan

SRPT Sarepta
$31.26

1.18 (3.92%)

12/22/16
12/22/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Microsoft (MSFT) initiated with an Overweight at Piper Jaffray. 2. Sarepta (SRPT) initiated with an Overweight at JPMorgan. 3. Oracle (ORCL) initiated with an Overweight at MUFG. 4. Zillow (Z, ZG) initiated with a Hold at Stifel. 5. Las Vegas Sands (LVS) was initiated with a Buy and Wynn Resorts (WYNN) was initiated with a Neutral at Aegis. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/23/16
OPCO
12/23/16
NO CHANGE
Target $76
OPCO
Outperform
Oppenheimer remains bullish on Sarepta
Oppenheimer analyst Hartaj Singh notes that Sarepta has a commercial and active product in Exondys 51 for Exon 51 amenable Duchenne muscular dystrophy, a disease with a high unmet need. The analyst believes that a "complex reimbursement environment" coupled with a small target patient population in the U.S. could lead to a slower launch than expected. However, once the reimbursement process is settled and the patient on-boarding process is efficient, he expects a stronger sales ramp. Singh remains bullish on the stock, and reiterates an Outperform rating and $76 price target on the shares.
01/06/17
JMPS
01/06/17
NO CHANGE
Target $65
JMPS
Outperform
Sarepta price target lowered to $65 after physician survey at JMP Securities
JMP Securities analyst Liisa Bayko reported the firm conducted its first survey of U.S. physicians who treat Duchenne muscular dystrophy patients to gauge early experiences with Sarepta's Exondys 51. At the end of 2016, respondents had written a prescription to about 1 in 5 eligible patients, 1 in 5 were denied coverage and about 15% were in the adjudication process, noted Bayko, who lowered her price target on Sarepta to $65 from $90 to adjust for the survey results as well as an updated pricing analysis. Bayko keeps an Outperform rating on Sarepta and said she sees potential upside to about $160 per share if Exondys 51 is approved in the EU and if all of its earlier-stage assets targeting exons 45/53 are successful.
01/10/17
BARD
01/10/17
NO CHANGE
Target $102
BARD
Outperform
Baird expects Sarepta 'relief rally' on launch update
Baird analyst Brian Skorney expects a "relief rally" in shares of Sarepta Therapeutics after the company announced Exondys 51 sales of $5.4M and greater than 250 patient start forms were submitted by year-end. If the shares were at $60, the sales figure would be a disappointment, but expectations have been lowered and whisper numbers were nearing negative territory, Skorney tells investors in a research note following Sarepta's JPMorgan Conference presentation. "This is just the beginning," as the company has dystrophin data coming from SRP-4053 in exon-53-amenable patients in the first half of 2017 and data plans to advance at least three additional assets, the analyst contends. Skorney keeps an Outperform rating on Sarepta with a $102 price target.

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