Robert W. Baird analyst Brian Skorney downgraded the rating on Sarepta Therapeutics to a Hold today, setting a price target of $15.00.
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Brian Skorney’s rating is based on several concerns surrounding Sarepta Therapeutics, particularly regarding transparency and safety issues. The company has faced significant scrutiny due to the lack of disclosure about recent patient deaths associated with its gene therapy treatments. This lack of transparency has eroded trust in management and raised broader safety questions about their products.
Additionally, there is uncertainty regarding the future of Elevidys, a key product for Sarepta. Reports suggest that the FDA may request a voluntary suspension of Elevidys shipments due to safety concerns, which could lead to the drug being pulled from the market. These factors contribute to a cautious outlook, resulting in a Hold rating as the risks and uncertainties overshadow potential gains.
In another report released today, Needham also downgraded the stock to a Hold with a $50.00 price target.