Joseph Schwartz, an analyst from Leerink Partners, maintained the Buy rating on Sarepta Therapeutics (SRPT – Research Report). The associated price target was lowered to $100.00.
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Joseph Schwartz has given his Buy rating due to a combination of factors including the expectation of significant cash flow generation by Sarepta Therapeutics in the near term. Despite recent setbacks such as lower-than-expected sales of Elevidys and a reduction in revenue guidance, the company still holds potential for growth through its pipeline candidates, which are not currently reflected in its valuation.
Moreover, Sarepta’s limb-girdle muscular dystrophy programs are advancing as planned, with important data expected in mid-2025, which could bolster the company’s prospects. Although the company faces challenges, such as commercial headwinds and safety concerns, the current market valuation presents an opportunity for cautious optimism. Schwartz maintains an Outperform rating, suggesting confidence in the company’s ability to overcome these hurdles and deliver value to investors.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $137.00 price target.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SRPT in relation to earlier this year.