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Tourbillon Capital CIO Jason Karp told hedge fund managers on Thursday that he thinks Sarepta Therapeutics Inc., (SRPT)  a medical research and drug development company, is a good investment and is likely an acquisition candidate.

"We think it is a likely acquisition candidate, which could get us a premium multiple, which could get us to 300% upside," Karp said. "It has a sustainable competitive advantage."

The fund manager said it expects Sarepta Therapeutics to get to $550 million in sales, which would generate a significant increase in its stock price. He said it could get up to $97 a share shortly, up from its current trading price of $36 a share.

 The Deal had reported earlier this month that could soon become an activist target, arguing

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Consider that its CEO, Ed Kaye, said Thursday he's resigning from the post. Kaye will remain with the company as a director and adviser. Also, Sanofi executive Jean-Paul Kress, a Sarepta director since 2015, said he would not stand for re-election to the company's board. He decided not to stand for re-election due to time commitments and "a possible conflict of interest associated with his future endeavors."

Sometimes activist fund manager Ricky Sandler of Eminence Capital launched a short-campaign against Iron Moutain (IRM) , arguing that he thinks it could have a 50% downside. He argued that it has a dividend problem and shouldn't be valued like a REIT.   

Sandler took issue with Iron Mountain's business, which focuses on providing paper-based storage for companies.

 "When we talk to CIOs of hospitals, investment banks and insurance companies they tell us that paper-based storage is declining at about a mid-to-high single digit rate for them," he said. "Iron Mountain has secular headwinds."