As previously reported, Barclays analyst Gena Wang upgraded Sarepta (SRPT) to Equal Weight from Underweight with a price target of $22, up from $10, after the FDA recommended removal of a voluntary hold for Elevidys in ambulatory patients one week after the agency’s request for a drug suspension in ambulatory DMD patients. The update “removes the worst-case scenario” of a sustained period of Elevidys being off the market and major liquidity risk is removed for now, though the firm opts to stay on the sidelines until there is greater FDA clarity.
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