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Investing.com - Baird has reduced its price target for Sarepta Therapeutics (NASDAQ:SRPT) to $15.00 from $21.00 while maintaining a Neutral rating on the stock. This comes as SRPT shares have plummeted 80% over the past year, currently trading at $24.45, well below its 52-week high of $138.81.
The downward revision follows the failure of the company’s ESSENCE trial, which Baird described as "the longest, largest dystrophin replacement study" in Duchenne muscular dystrophy (DMD).
According to Baird, this setback compounds Sarepta’s challenges in the DMD space, with both its gene therapy and PMO franchise likely to face "increasing regulatory/payer/physician scrutiny."
The firm noted that sales of Elevidys, Sarepta’s gene therapy treatment, experienced an expected decline, though they were "marginally better than expected."
With both segments of Sarepta’s DMD business likely to face pressure, Baird adjusted its price target downward while maintaining its neutral stance on the stock.
In other recent news, Sarepta Therapeutics, Inc. reported its third-quarter earnings for 2025, significantly outperforming expectations. The company achieved an earnings per share (EPS) of -$0.13, a notable improvement compared to the forecasted -$0.7. This represents a positive surprise of 81.43%. Additionally, Sarepta reported revenue of $399 million, surpassing the projected $337.91 million by 18.2%. These results highlight the company’s strong performance in the quarter. The earnings announcement was followed by a positive reaction in the aftermarket. Investors and analysts will likely keep a close watch on Sarepta’s future performance given these developments.
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