Sarepta shares should trade into $180-$190 level after data, says JPMorgan
JPMorgan analyst Anupam Rama believes the updated data from Sarepta Therapeutics' Phase 1/2 trial of micro-dystrophin gene therapy in Duchenne muscular dystrophy "beat the highest of expectations on the Street." The data showed improved micro-dystrophin expression levels as measured by Western Blot and functional improvements across multiple key efficacy endpoints that far exceeded Street expectations, Rama tells investors in a research note. Further, the analyst sees no major safety concerns. He believes Sarepta shares should trade into the $180-$190 following the data and would use any potential weakness as a buying opportunity. Rama keeps an Overweight rating on Sarepta. The stock in premarket trading is up 3%, or $4.25, to $151.63.