After PTC Therapeutics (PTCT) announced that the European Commission rejected the CHMP’s recommendation to withdraw PTC’s Translarna from the EU market and requested a re-evaluation, RBC Capital analyst Brian Abrahams said the firm believes “this should bode well” for Sarepta (SRPT) as the firm calls Translarna “another DMD drug with mixed ph.III data.” The firm is “somewhat surprised” that Sarepta shares are not stronger on this news, as it believes this could have positive read-throughs for Elevidys’ likelihood of ultimate approval in Europe. The firm keeps an Outperform rating and $157 price target on Sarepta Therapeutics shares.
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