LAS VEGAS (Reuters) - Hedge fund manager Jason Karp on Thursday said that shares of Sarepta Therapeutics Inc could climb as much as 200 percent and noted the biotech company could be an attractive takeover candidate.
“If they can get to the sales levels in the next two years, this thing should be 200 percent higher,” Karp said at the SkyBridge Capital SALT hedge fund conference. The company treats Duchenne muscular dystrophy which affects as many as 7,000 males. Its sales could climb to $600 million from $75 million now, said Karp, who specializes in picking stocks.
By the end of next year the stock price could hit $97, up from $36.10 now, he said. Sarepta shares climbed nearly 5 percent after Karp unveiled his pick.
Reporting by Svea Herbst-Bayliss; Editing by Meredith Mazzilli