Needham lowered the firm’s price target on Sarepta (SRPT) to $202 from $205 and keeps a Buy rating on the shares. The deal with Arrowhead (ARWR) offers platform diversification with clear long-term investment in chronic strategies for rare diseases, and also offers diversification by therapeutic space, as clinical programs span muscle, central nervous system and pulmonary indications, the analyst tells investors in a research note. Needham thinks the deal makes strategic sense given Sarepta’s expertise in rare genetic medicine and is also encouraged by the share buyback, which suggests confidence in near-term revenues.
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Read More on SRPT:
- Arrowhead price target lowered to $45 from $62 at Piper Sandler
- Sarepta price target lowered to $182 from $200 at Piper Sandler
- Sarepta price target raised to $217 from $210 at BofA
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- Sarepta deal with Arrowhead a ‘prudent move,’ says Leerink
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