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SRPT

Sarepta

$71.74

-1.12 (-1.54%)

14:45
04/09/18
04/09
14:45
04/09/18
14:45

Sarepta call volume above normal and directionally bullish

Bullish option flow detected in Sarepta with 4,801 calls trading, 1.7x expected, and implied vol increasing over 1 point to 62.75%. 4/13 weekly 77 calls and 4/13 weekly 78 calls are the most active options, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 0.10. Earnings are expected on April 26th.

SRPT Sarepta
$71.74

-1.12 (-1.54%)

03/21/18
MSCO
03/21/18
DOWNGRADE
MSCO
Equal Weight
Sarepta downgraded to Equal Weight from Overweight at Morgan Stanley
03/21/18
03/21/18
DOWNGRADE
Target $87

Equal Weight
Sarepta downgraded as part of portfolio rebalancing at Morgan Stanley
As previously reported, Morgan Stanley analyst Matthew Harrison downgraded Sarepta (SRPT) to Equal Weight from Overweight as part of a rebalancing after a "strong run" for small-to-mid cap biotech stocks. He believes the next move higher in Sarepta will be driven by success in gene therapy, where he does not believe he has an edge in calling the outcome, Harrison tells investors. However, he also noted that initial signals from Sarepta's gene therapy program are promising with no safety issues and that his downgrade is not based on a specific concern around the program. He raised his price target on Sarepta shares to $87 from $64. Harrison also downgraded Loxo Oncology (LOXO) and Global Blood Therapeutics (GBT) as part of the rebalancing, citing valuation.
03/21/18
03/21/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Match Group (MTCH) downgraded to Neutral from Buy at Guggenheim. 2. Sarepta (SRPT), Global Blood Therapeutics (GBT), and Loxo Oncology (LOXO) were downgraded to Equal Weight from Overweight at Morgan Stanley. 3. Instructure (INST) downgraded to Buy from Strong Buy at Needham with analyst Scott Berg citing valuation, with the stock price having run up 133% since the start of 2017. 4. OncoCyte (OCX) downgraded to Neutral from Buy at Janney Capital. 5. Cboe Global Markets (CBOE) downgraded to Underweight from Neutral at JPMorgan with analyst Kenneth Worthington saying despite the stock market recovery, Cboe's risk/reward is skewed to the downside as pressure on the VIX futures is likely to continue. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/28/18
JMPS
03/28/18
NO CHANGE
Target $42
JMPS
Outperform
FDA guidance to Sarepta could speed Summit's DMD path, says JMP Securities
JMP Securities analyst Liisa Bayko noted that the FDA recently communicated to Sarepta Therapeutics (SRPT) that it would allow a statistically significant increase in de novo truncated dystrophin to serve as the basis for accelerated approval for golodirsen. She thinks this could also open the door for Summit Therapeutics (SMMT) to utilize utrophin as a potential biomarker for accelerated approval of ezutromid, its own Duchenne muscular dystrophy candidate, adding that she sees an accelerated path as upside to her valuation. Bayko keeps an Outperform rating and $42 price target on Summit shares.

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