Balanced Risk Profile Amid Elevidys Uncertainty and PMO Regulatory Headwinds Supports Hold on Sarepta

William Blair analyst Sami Corwin has reiterated their neutral stance on SRPT stock, giving a Hold rating today.

Sami Corwin has given his Hold rating due to a combination of factors tied to both recent performance and forward visibility. While Sarepta’s overall quarterly revenue slightly exceeded expectations, Elevidys sales came in below both the firm’s and the Street’s forecasts, with management partly blaming a harsh flu season and infusion delays. The company reaffirmed an Elevidys annual sales “floor” of $500 million, but the absence of formal revenue guidance makes it difficult to judge whether underlying demand is truly recovering. This uncertainty around the trajectory of Elevidys limits confidence in near-term upside for the shares.
Sami Corwin’s rating is also influenced by mixed signals in the rest of the product portfolio. Strong demand for the PMO franchise helped offset Elevidys weakness, with PMO revenues beating expectations; however, the recent ESSENCE trial failure raises concerns that Vyondys 53 and Amondys 45 could ultimately lose marketing authorization. The potential erosion of these PMO revenues adds another layer of risk to Sarepta’s future top line. Taken together—soft Elevidys performance, lack of clear guidance on its growth, and regulatory risk to legacy PMO products—Corwin sees the risk/reward as balanced and therefore maintains a Hold (Market Perform) stance on SRPT.

In another report released today, TipRanks – OpenAI also reiterated a Hold rating on the stock with a $24.00 price target.