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Fly News Breaks for August 9, 2019
Aug 9, 2019 | 07:33 EDT
Credit Suisse analyst Martin Auster said there is "no change" to his thesis on Sarepta Therapeutics after speaking with the company's management after the company said that an adverse event report was erroneously submitted to the FDA's adverse event reporting system, or FAERs. In a research note to investors, Auster, who has an Outperform rating and $207 price target on Sarepta shares, says management said the patient in question was reported to have been highly active the previous day and subsequently presented to his clinician with dark urine, elevated CK, no muscle pain and was otherwise asymptomatic. Management said that the urine and CK measures resolved to baseline and the patient was discharged from the hospital on the next day. Auster says overall, he thinks the reported AE concern was a non-event and that the lack of any DSMB or FDA action as a result strengthens the credibility of the company's position.
News For SRPT From the Last 2 Days
Sep 17, 2019 | 06:29 EDT
Citi analyst Joel Beatty removed The Medicines Co. (MDCO) and Minerva (NERV) from his top five Buy-rated stocks in SMid cap Biotech. These stocks are up 34% and 28%, respectively, since the analyst established them as among his top five Buy-rated stocks in July. Beatty replaced The Medicines Co. and Minerva with Amarin (AMRN) and Sarepta Therapeutics (SRPT). His top five buys are now Amarin, Eloxx Pharmaceuticals (ELOX), NGM Biopharmaceuticals (NGM), PTC Therapeutics (PTCT) and Sarepta. He wants to own Amarin into the November FDA panelmeeting, believing it will be "innocuous" and lead to a risk reduction label for Vascepa. On Sarepta, Beatty thinks the recent share pullback is overblown, and he reiterates his thesis that "although there will likely be some minor bumps on the road," the company will ultimately win the Image result for Duchenne muscular dystrophy gene therapy race
Sep 16, 2019 | 09:04 EDT
In a regulatory filing, it was disclosed that Sarepta director Richard Barry purchased 5,000 shares of Sarepta common stock in transactions at prices ranging from $87.44-$87.50 on September 12-13.