Cantor outlines how to navigate the emerging Bitcoin treasury sector
Investing.com - Jefferies has lowered its price target on Sarepta Therapeutics (NASDAQ:SRPT) to $35.00 from $40.00 while maintaining a Buy rating on the stock. The revision comes as the stock has declined over 91% in the past year, with InvestingPro data showing 8 analysts revising their earnings expectations downward for the upcoming period.
The firm cited Roche’s reduced ex-US peak sales guidance for Elevidys, which was cut to 0.5-1 billion CHF from the previous 2-3 billion CHF range, despite Roche maintaining "high confidence" in the drug’s benefit/risk profile for ambulatory Duchenne muscular dystrophy (DMD).
In the United States, Sarepta is currently addressing FDA questions and completing the safety labeling supplement process for Elevidys in ambulatory DMD patients.
Jefferies noted that shipments of Elevidys are currently paused in the US market while these regulatory matters are being resolved.
The firm observed that market expectations for US sales are "very low" due to increased uncertainty and potential FDA controversy surrounding the treatment.
In other recent news, Sarepta Therapeutics is facing significant challenges, particularly concerning its gene therapy programs. Citi has reiterated its Sell rating on Sarepta, maintaining a $7.00 price target due to regulatory hurdles related to the company’s Elevidys treatment. According to reports, the FDA’s Center for Biologics Evaluation and Research (CBER) unanimously agreed that Elevidys should not return to the market, prompting Sarepta to conduct new studies for any potential reintroduction. Additionally, Citi has placed a 90-day downside catalyst watch on the company, citing potential safety issues with its AAVrh74 gene therapy. Freedom Broker also downgraded Sarepta from Buy to Hold, reducing the price target from $110.00 to $14.00, following concerns about a late disclosure of a patient’s death in the SRP-9004 study. These developments have notably affected investor confidence, as reported by Freedom Broker. The ongoing issues have prompted analysts to express skepticism about the company’s future prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.