Shares of Sarepta Therapeutics Inc. gained 11.3% in trading on Tuesday after the company shared positive data from a mid-stage, open-label clinical trial for its experimental Duchenne muscular dystrophy treatment. The data comes from the first 11 enrolled participants in a study of 20 participants who are between the ages of 4 and 7 years old. Duchenne’s is a rare, genetic disease that primarily young boys. Wall Street analysts had mixed views of the data. “While the Study 103 data are a step in the right direction, our thesis remains that SRPT will need to string together multiple wins this year to regain investor confidence,” SVB Leerink’s Joseph Schwartz told investors in a note. However, RBC Capital Markets analysts say they believe the experimental gene therapy has blockbuster potential, with the data setting “the stage for improving sentiment.” Sarepta’s stock has tumbled 50.1% so far this year, while the broader S&P 500 has gained 10.8%.
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