Sarepta Rumors Drive Shares Up

Sarepta (Nasdaq: SRPT  ) rumors are once again swirling, and shares are up 3% as a result. The company is often talked about as a possible candidate for a buyout because of its drug Eteplirsen, which has had incredible results treating Duchenne muscular dystrophy. The 3% jump today was due to a presentation by Vertex Pharmaceuticals (Nasdaq: VRTX  ) on its cystic fibrosis drug Kalydeco, which had several slides discussing Eteplirsen. Vertex has been mentioned in passing before as a possible interested party in Sarepta. Shares currently trade around $30 per share, but a recent upgrade from Piper Jaffray pegged the stock to go to anywhere between $60 and $80 in the short term, and possibly as high as $160.

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