Sarepta price target lowered to $165 from $178 at Cantor Fitzgerald

Cantor Fitzgerald analyst Kristen Kluska lowered the firm’s price target on Sarepta to $165 from $178 and keeps an Overweight rating on the shares. The firm has reduced its estimate of the probability of success for SRP-9001 to 70% from 75% after the announcement of an Advisory Committee meeting, the analyst tells investors in a research note. The firm believes that the Sarepta team is confident in its preparation for an AdCom, which was the assumption when the Biologics License Application was submitted.