Sarepta price target raised to $200 from $170 at BMO Capital

BMO Capital raised the firm’s price target on Sarepta (SRPT) to $200 from $170 and keeps an Outperform rating on the shares after the FDA broadened the label for Elevidys in Duchenne muscular dystrophy – or DMD – from the accelerated approval in ambulatory 4-5 year-olds to include ambulatory and non-ambulatory patients at least four years old via traditional and accelerated approval. While sell-the-news” effect limited Sarepta upside on Friday, the company’s monopoly, coupled with the huge unmet need in DMD, generate a significant commercial opportunity for Sarepta, the analyst tells investors in a research note. Investor focus has now shifted to whether Elevidys sales can meet or beat consensus and how fast Elevidys penetration can ramp to avoid competitive pressure from Regenxbio (RGNX), the firm added.