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Hailshadow RBC Capital has lowered its rating on Sarepta Therapeutics ( NASDAQ: SRPT ) to sector perform, citing a run up in the stock ahead of an expected FDA decision on June 21 for its drug Elevidys in the treatment of Duchenne muscular dystrophy, or DMD. RBC said while it still expects to see “significant share upside” on the broadest label, with a potential $2.6B in US peak sales, it sees “somewhat less marked upside to our blended scenarios” with shares appreciating around 50% over the past six months, investors appearing to already expect label expansion and “slightly more tempered messaging from FDA and the company.

” “While we remain holders, we would consider waiting for a better entry point before adding more to positions ahead of the PDUFA,” it added. RBC also lowered its price target to $142 from $157. More on Sarepta Therapeutics Sarepta Therapeutics, Inc.



(SRPT) Q1 2024 Earnings Call Transcript Sarepta Therapeutics: Growth Trajectory Alters Trading Strategy Sarepta Therapeutics: Another 'Hold' Call Ahead Of Some Key Catalysts Sarepta upgraded at Oppenheimer on potential Elevidys label expansion HHS panel to vote in Nov. on DMD screening for newborns.

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