SRPT, then known as AVI BioPharma, Inc. (AVII), was recommended by The National Investor at $1.17 in Investment Digest issue 668, dated April 7, 2010.
“Shares of Sarepta Therapeutics, Inc. (SRPT) (formerly AVI BioPharma, AVII) are up some 150% this morning. The biotech company announced before the market open that it had achieved further success with one of its developmental products, Eteplirsen, for the treatment of Duchenne Muscular Dystrophy. Rather than try and rehash all the news, I encourage you to read this exciting news for the company at this link to their press release.
“As you know, biotech firms’ share prices are most always driven by such breakthrough announcements. Sarepta continues to work on other products as well; last week it released some positive news on its Marburg virus treatment drug, which is also being watched by the government as a tool in its own arsenal to treat a bioterror attack.
“Despite the HUGE move in these shares today, I still like the company longer-term. Bear in mind, though, the likelihood that profit-taking will come in at some point and erase at least some of today’s move. Thus, I recommend that — especially if you had a heavy position in SRPT prior to today — you sell some of these shares and lock in this gain. Generally speaking, if you’ve followed our advice and had 1% of your overall portfolio in SRPT, it will now be 2%-plus. So a good move would be to sell half. Further, Sarepta is now moved from a Buy to an Accumulate.”
- Chris Temple, The National Investor, July 24, 2012