- I expect Sarepta (NASDAQ:SRPT) will test the $40.00 mark before the FDA November 23-24 meeting
- The technical simple moving average trends show an intersection right around $40
- SRPT seems to be moving outside of the China headache, so I expect it to return to its trend channel
Sarepta develops RNA-based therapeutics to improve the lives of people affected by serious diseases; this includes eteplirsen for the treatment of DMD. The current eteplirsen Phase 2 trial has 20 patients in a 96 week study with a completion date of May 2017.
Looking at the simple SMA trend lines SRPT is in a good uptrend channel (ignoring China's impact this week). We expect it to resume course back to the upcoming inflection point around the $40.00 mark.
The technical charts have an intersection line targeting the November 23-24 committee meeting as the biggest upcoming event and the biggest risk.
What are the Risks?
Biomarin (NASDAQ:BMRN) is still on the playing field, and SRPT and BMRN will be reviewed by the Peripheral and Central Nervous System Drugs Advisory Committee board tentatively set for November 23-24.
I am thinking about buying this and getting out before the November 23-24 meeting. Additionally the options spread play sounds enticing, but I need to research how much the options are.
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