Analyst Michael Ulz of Morgan Stanley reiterated a Buy rating on Sarepta Therapeutics (SRPT – Research Report), retaining the price target of $182.00.
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Michael Ulz has given his Buy rating due to a combination of factors related to Sarepta Therapeutics’ promising developments in their limb-girdle muscular dystrophy (LGMD) pipeline. The company has made significant strides with its LGMD programs, which are expected to launch over the next three years and represent a substantial market opportunity. Notably, the SRP-9005 program for LGMD type 2C/R5 has received FDA clearance to proceed with screening and dosing, indicating regulatory progress.
Additionally, the SRP-9004 program for LGMD type 2D/R3 has completed enrollment and dosing in its Phase 1 study, while the SRP-9003 program for LGMD type 2E/R4 remains on track for mid-2025 data release. The potential for an accelerated approval pathway for SRP-9003 further supports the positive outlook. While the LGMD pipeline’s progress is encouraging, investor attention is also focused on the launch trends of Elevidys, following recent safety updates. Overall, these developments contribute to a positive assessment and support the Buy rating.
In another report released on April 11, Wells Fargo also initiated coverage with a Buy rating on the stock with a $115.00 price target.
SRPT’s price has also changed dramatically for the past six months – from $123.730 to $54.420, which is a -56.02% drop .