Goldman Sachs downgraded Sarepta (SRPT) to Neutral from Buy with a price target of $29, down from $100. The firm sees an “uncertain outlook” amid safety concerns following the second reported death of a non-ambulatory Elevidys-treated Duchenne muscular dystrophy patient due to acute liver failure. There is risk that this event could occur again and subsequently impact demand, the analyst tells investors in a research note. Goldman halved its Elevidys revenue estimates, resulting in peak U.S. sales of $1.8B in 2030.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SRPT:
- Sarepta death shows favorable SGT-003 profile, says H.C. Wainwright
- Sarepta price target lowered to $75 from $100 at Wells Fargo
- Sarepta price target lowered to $29 from $89 at Barclays
- Sarepta initiated with a Peer Perform at Wolfe Research
- Buy Rating for Sarepta Therapeutics Amid Safety Concerns and Regulatory Challenges
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue