Microvast Holdings announces departure of chief financial officer
Investing.com - Oppenheimer has upgraded Sarepta Therapeutics (NASDAQ:SRPT) from Perform to Outperform and raised its price target to $37.00 from $30.00 following the FDA’s decision to lift a voluntary hold on the company’s ELEVIDYS therapy. The stock, currently trading at $16.61, appears undervalued according to InvestingPro analysis, with technical indicators suggesting oversold conditions.
The FDA announced Monday its recommendation to remove the voluntary hold of ELEVIDYS for ambulatory Duchenne muscular dystrophy (DMD) patients after completing an investigation into the death of an 8-year-old patient in Brazil.
The agency determined the death was unrelated to the gene therapy, which restores access to the treatment for ambulatory patients with DMD, a progressive muscle-wasting disease.
The FDA continues to evaluate Sarepta’s proposed immunosuppressive regimen with sirolimus in non-ambulatory patients based on recommendations from an Expert Committee.
Oppenheimer views the FDA’s decision as a positive outcome for the DMD community, noting patients now regain access to ELEVIDYS with additional assurance that the risk-benefit profile remains favorable in ambulatory patients following the agency’s review. The consensus among analysts remains cautiously optimistic, with an average target significantly above current levels. For deeper insights into Sarepta’s financial health and growth prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Sarepta Therapeutics has seen several developments following the FDA’s decision to lift the voluntary clinical hold on its Elevidys treatment for ambulatory Duchenne muscular dystrophy (DMD) patients. This regulatory move came after the FDA reviewed the death of an 8-year-old patient in Brazil and determined it was "unlikely related to the therapy." As a result, multiple analyst firms have adjusted their positions on Sarepta. Barclays (LON:BARC) upgraded the stock rating from Underweight to Equalweight and increased the price target to $22.00. Similarly, BMO Capital raised its price target significantly to $50.00 while maintaining a Market Perform rating. Piper Sandler also adjusted its price target to $15.00, maintaining a Neutral rating. TD Cowen increased its price target to $17.00, keeping a Hold rating. These changes reflect the analysts’ responses to the FDA’s recent actions concerning Sarepta’s Elevidys treatment.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.