Citi negative on Sarepta, Ariad for 2014, shares slide

|About: Sarepta Therapeutics, Inc. (SRPT)|By:, SA News Editor

Shares of Sarepta Therapeutics (SRPT) are off 5.7% premarket.

Likely behind the move is Citi, where SRPT is a top sell idea for 2014, along with Ariad Pharmaceuticals (ARIA).

On SRPT, Citi doesn't "anticipate that [the] FDA will reverse its view that eteplirsen's Phase 2 data is not sufficient to file [making] the path ahead ... risky, lengthy, and expensive."

On ARIA: "We expect the [Iclusig] re-launch to be challenging with a tightly restricted label and headwinds."

ARIA -6.5% premarket