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Oppenheimer analysts said in a note Friday that Sarepta Therapeutics Sarepta Therapeutics Inc (NASDAQ:SRPT) is “ripe” for a takeover.
The analysts, who have an Outperform rating and a $150 price target on the stock, explained that while the M&A Buy thesis for Sarepta has been explained well, they believe the timing might be “more ripe currently.”
Sarepta Therapeutics shares are down 0.4% at the time of writing. However, they have climbed 27% so far in 2022.
Oppenheimer upgraded Sarepta in December last year, stating it had a “best-in-class rh74 AAV capsid.”
In today’s note, the analysts wrote: “The best-in-class safety profile for SRPT’s rh74 AAV vector is bolstered by the company’s leading manufacturing expertise in this area; possibly creating a significant moat around the muscular dystrophy programs. The LGMD programs and the RNA-based PPMO programs are underappreciated. We stay bullish.”
“The optics for a SRPT takeout are easy, in our view: (1) a leader in gene therapy, (2) a leader in muscular dystrophies (DMD, LGMDs), (3) a fairly diverse pipeline with RNA-targeted therapies and gene editing approaches also, and (4) a strong financial backdrop to achieve its objective to be a leader in genetic medicines in rare diseases. We add some nuance to these views,” they added.
