Bank of America Merrill Lynch names Sarepta (SRPT -0.2%) as the top small- to mid-cap pick in biotech for H2 and sees several near-term catalysts for the company.
The firm cites upside potential from Sarepta’s LGMD gene therapy pipeline, which isn’t priced into the current valuation.
Analyst Tazeen Ahmad says LGMD2E clinical data is encouraging and notes that the treatment doesn’t have competition.
Ahmad also calls Sarepta a front-runner in DMD with plans to initiate a pivotal commercial supply study by the end of the year.
Pfizer will present data for its dystrophin DMD gene therapy at the end of the month. Ahmad writes that in the worst-case scenario, Pfizer would look competitive with Sarepta, an outcome that wouldn’t change the analyst’s estimates.
SRPT has an Outperform average Sell Side rating.
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