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SRPT

Sarepta

$127.16

-2.32 (-1.79%)

07:24
08/14/18
08/14
07:24
08/14/18
07:24

Sarepta Therapeutics initiated with a Buy at Citi

Citi analyst Joel Beatty initiated coverage of Sarepta Therapeutics with a Buy rating and $174 price target. The analyst sees $35 of share upside for Sarepta before the end of 2019 from its gene therapy platform. Gene therapy is the most promising therapeutic modality in late-stage development for Duchenne muscular dystrophy and likely to be approved, Beatty tells investors in a research note. He believes Sarepta's transition to gene therapy is likely to be successful.

SRPT Sarepta
$127.16

-2.32 (-1.79%)

08/01/18
08/01/18
UPGRADE
Target $163

Overweight
Sarepta upgraded to Overweight after recent pullback at Morgan Stanley
As previously reported, Morgan Stanley analyst Matthew Harrison upgraded Sarepta Therapeutics to Overweight from Equal Weight, noting that the stock is down about 34% since June 19 after having moved up by about 50% when its initial DMD gene therapy data was announced. He sees the pullback as an opportunity to own the stock near pre-DMD gene therapy levels without taking the binary risk, Harrison tells investors. He we doesn't think a major bear case has emerged on the prospects for the company's DMD gene therapy program and he sees major catalysts in the second half of this year that he believes the market is missing. Harrison has a $163 price target on Sarepta shares, which closed yesterday at $116.24.
08/01/18
08/01/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. AutoZone (AZO) upgraded to Buy from Hold at Deutsche Bank with analyst Mike Baker saying Improving comps and fundamentals, coupled with a stock that has underperformed year-to-date, has brought a "compelling" valuation. 2. Pandora (P) upgraded to Outperform from Sector Perform at RBC Capital with analyst Mark Mahaney saying the company's double-digit organic revenue growth and declining EBITDA losses were driven by improving execution, adding that while the 2% active listener hours decline is a worry, the valuation on the stock is "undemanding" given its expected annualized revenue growth of about 10% over the next 3 years. 3. Papa John's (PZZA) upgraded to Buy from Hold at Jefferies with analyst Alexander Slagle saying the stock, down 50% from highs, now reflects the likelihood that fundamentals will get worse before improving. 4. Electronic Arts (EA) upgraded to Buy from Hold at Argus with analyst Joseph Bonner saying the latest pullback in the stock price after the company's recent Q1 earnings report offers a favorable entry point. 5. Sarepta (SRPT) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Matthew Harrison saying the stock is down about 34% since June 19 after having moved up by about 50% when its initial DMD gene therapy data was announced. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/01/18
08/01/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. JEFFERIES UPGRADES DROPBOX TO BUY: Jefferies analyst John DiFucci upgraded Dropbox (DBX) to Buy from Hold with an unchanged price target of $32. The analyst is not making a call on the Q2 results, which come on August 9. Rather, the upgrade is based "entirely on valuation," he stated. Dropbox is up 4.7% in late morning trading. JEFFERIES UPGRADES PAPA JOHN'S: Jefferies analyst Alexander Slagle upgraded Papa John's (PZZA) to Buy from Hold and raised his price target for the shares to $58 from $52. The stock, down 50% from highs, now reflects the likelihood that fundamentals will get worse before improving, Slagle said. After reviewing the company's potential path to recovery and possible strategic actions that could create shareholder value, the analyst has a bull case of $75 per share. He thinks this outweighs the bear case, or downside risk, of $35 per share. SAREPTA UPGRADED AFTER PULLBACK: Morgan Stanley analyst Matthew Harrison upgraded Sarepta Therapeutics (SRPT) to Overweight from Equal Weight, noting that the stock has given up much of the gains it saw when its initial DMD gene therapy data was announced. He sees the pullback as an opportunity to own the stock near pre-DMD gene therapy levels without taking the binary risk. He doesn't think a major bear case has emerged on the prospects for the company's DMD gene therapy program and he sees major catalysts in the second half of this year that he believes the market is missing. Harrison has a $163 price target on Sarepta shares. PIPER CUTS SHOPIFY TO NEUTRAL: Piper Jaffray analyst Michael Olson downgraded Shopify (SHOP) to Neutral from Overweight and lowered his price target to $145 from $155, saying that Shopify's Q2 was "good, but not good enough" with monthly recurring revenue below investor expectations. While Olson said Shopify is performing well, he believes their performance is mostly reflected in the stock's current valuation. PIPER RECOMMENDS BIOGEN AFTER MANAGEMENT MEETING: After hosting investor meetings with Biogen (BIIB) investor relations this week, Piper Jaffray analyst Christopher Raymond came away feeling like the "all-important" high-dose APOE4 subset analysis of the BAN2401 results "may be provided sooner than later." If shown to have little impact on the overall placebo-adjusted ADCOMS benefit, this should be an important event, Raymond said. Coupling this with "continued solid commercial momentum and a host of other value-enhancing catalysts," the analyst continues to like the risk/reward on Biogen. He kept an Overweight rating on shares with a $400 price target.
08/09/18
BARD
08/09/18
NO CHANGE
Target $202
BARD
Outperform
Sarepta designated as Fresh Pick at Baird
Baird analyst Brian Skorney designated Sarepta as a Fresh Pic following Q2 results which showed Exondys 51 sales coming in ahead of expectations, an acceleration of casimersen towards a 2019 NDA filing, and an expansion of its gene therapy platform. The analyst believes Sarepta shares are poised to start a climb back up following the recent pullback in the stock. Skorney reiterated his Outperform rating and $202 price target on Sarepta.

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