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Fly News Breaks for January 7, 2020
Jan 7, 2020 | 11:37 EDT
In a research note, BofA analyst Tazeen Ahmad called Sage Therapeutics (SAGE) and Sarepta (SRPT) her top SMID Biotech picks for the first half of 2020, based on potential catalysts and current pipelines. The analyst maintained a Buy rating on Sage Therapeutics and raised her price target on shares to $98 from $85. Ahmad said Sage is an attractive pick for the first half of 2020 due to its "disruptive pipeline built on novel mechanisms targeting central nervous system disorders" including depression and Huntington's disease. The analyst maintained a Buy rating and $187 price target on Sarepta, saying she sees significant near-term upside potential based on the company's product/pipeline portfolio, which focuses on rare muscle diseases. Ahmad noted that Sarepta got a surprise accelerated approval of Vyondys 53 last month, and now has two marketed exon-skipping assets, Exondys 51 and Vyondys 53.