Michael Ulz, an analyst from Morgan Stanley, maintained the Hold rating on Sarepta Therapeutics. The associated price target remains the same with $20.00.
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Michael Ulz has given his Hold rating due to a combination of factors surrounding Sarepta Therapeutics’ ongoing research and development activities. The company is progressing with its Phase 1/2 study for SRP-1003 in type 1 myotonic dystrophy, with multiple cohorts having been completed and others currently underway. This progress is seen as a positive development, yet the study is still in early stages, which introduces a level of uncertainty.
Additionally, Sarepta’s collaboration with Arrowhead involves a significant milestone payment, reflecting a substantial financial commitment. While the advancement of the DM1 trial and the potential updates from the siRNA pipeline are promising, the outcomes remain to be seen. These elements contribute to a cautious outlook, justifying the Hold rating as investors await more definitive results from the ongoing trials.
In another report released today, Bernstein also maintained a Hold rating on the stock with a $20.00 price target.