Why Sarepta Therapeutics Shares Popped

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Sarepta Therapeutics (NASDAQ: SRPT  ) jumped as much as 15% today after research firm Cowen initiated coverage on the biotech company.

So what: Cowen lit a fire under Sarepta today by initiating coverage on the company with a rating of "outperform." The move comes just two weeks after the JPMorgan Healthcare Conference where Sarepta laid out its next steps for readying commercial production for eteplirsen, its Duchenne muscular dystrophy drug that performed exceptionally in mid-stage trials.

Now what: It remains to be seen whether the FDA will grant accelerated approval of eteplirsen given its results, which crushed the placebo, but, to agree with my Foolish colleague Brian Orelli, the FDA definitely should! Eteplirsen not only slowed down the progression of the disease, but actually showed walking improvement after 48 weeks in some patients -- that's phenomenal and all the more reason to believe this orphan drug is headed for an accelerated approval.

Craving more input? Start by adding Sarepta Therapeutics to your free and personalized watchlist so you can keep up on the latest news with the company.

The key to long-term gains
While you can certainly make huge gains in biotech and pharmaceuticals, the best investing approach is to choose great companies and stick with them for the long term. In our free report "
3 Stocks That Will Help You Retire Rich," we name stocks that could help you build long-term wealth and retire well, along with some winning wealth-building strategies that every investor should be aware of. Click here now to keep reading.


Read/Post Comments (0) | Recommend This Article (5)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2216646, ~/Articles/ArticleHandler.aspx, 11/23/2014 4:41:39 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement