Sarepta price target lowered to $179 from $210 at BofA
BofA lowered the firm’s price target on Sarepta (SRPT) to $179 from $210 and keeps a Buy rating on the shares. Following the news of the departure of Peter Marks from the FDA’s Center for Biologics Evaluation and Research, the firm is lowering its Elevidys estimates by about 20% out of an abundance of caution. While it is early, and its conversation with Sarepta today indicates they don’t expect an immediate impact, BofA thinks the open seat introduces additional uncertainty in addition to the recent safety update last week. Recall, Sarepta has accelerated approval in non-ambulatory patients. The firm has always assumed more use in younger patients, but it now also assumes less sales from non-ambulatory patients. BofA now models $3.5B in Elevidys peak sales, down from the previous $4.3B. Sarepta remains a top pick in 2025, the firm adds. Don't Miss Our End of Quarter Offers: Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks. Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders’ Hot Stocks on TipRanks >> Read More on SRPT: Disclaimer & DisclosureReport an Issue
